FBR Capital Reiterates an 'Outperform' on Pike Electric (PIKE); F3Q11 Results Solid, Outlook Improving
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Price: $12.01 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Pike Electric (NYSE: PIKE), PT $13.
FBR analyst says, "Yesterday, Pike Electric announced solid F3Q11 results. In our opinion, these results confirm our February 9 upgrade, which was based on Pike's distribution business recovering off a long bottom (evident again in F3Q), and the company's diversification strategy and focus on full EPC opportunities starting to pay off (evident in F3Q with the largest award of Pike's history, the $275M SCANA transmission project). We continue to expect upside to the shares as we believe: (1) organic growth continues, (2) profit margins improve with improved volumes and past cost-cutting efforts, (3) new awards within transmission/ engineering/substation continue to grow, and (4) investor confidence improves, awarding the shares a higher multiple similar to the more pure-play electrical transmission contractors."
For more ratings news on Pike Electric click here and for the rating history of Pike Electric click here.
Shares of Pike Electric closed at $9.72 yesterday.
FBR analyst says, "Yesterday, Pike Electric announced solid F3Q11 results. In our opinion, these results confirm our February 9 upgrade, which was based on Pike's distribution business recovering off a long bottom (evident again in F3Q), and the company's diversification strategy and focus on full EPC opportunities starting to pay off (evident in F3Q with the largest award of Pike's history, the $275M SCANA transmission project). We continue to expect upside to the shares as we believe: (1) organic growth continues, (2) profit margins improve with improved volumes and past cost-cutting efforts, (3) new awards within transmission/ engineering/substation continue to grow, and (4) investor confidence improves, awarding the shares a higher multiple similar to the more pure-play electrical transmission contractors."
For more ratings news on Pike Electric click here and for the rating history of Pike Electric click here.
Shares of Pike Electric closed at $9.72 yesterday.
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