Needham & Company Reiterates a 'Buy' on Analogic (ALOG); Replay of Last Quarter as Company Tops Our Revenue Estimate, but Bottom Line Falls Short
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Price: $83.95 --0%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Analogic Corporation (NASDAQ: ALOG), PT lowered from $62 to $58.
Needham analyst says, "Like last quarter ALOG easily beat our revenue estimate on strength in the Medical Imaging segment. But, despite also topping our gross margin expectations, the company fell short on the bottom line as operating expenses persist at levels higher than we have been modeling. To bring our forecast more in line with recent results, we have made a two way estimate revision, raising revenue a bit and lowering earnings on higher operating expense. Lower EPS leads to a lower target, but still sufficiently above the current price level to warrant the Buy rating. If the TSA orders come through later in the year and in early 2012, our new numbers may be too low."
For more ratings news on Analogic Corporation click here and for the rating history of Analogic Corporation click here.
Shares of Analogic Corporation closed at $50.33 yesterday.
Needham analyst says, "Like last quarter ALOG easily beat our revenue estimate on strength in the Medical Imaging segment. But, despite also topping our gross margin expectations, the company fell short on the bottom line as operating expenses persist at levels higher than we have been modeling. To bring our forecast more in line with recent results, we have made a two way estimate revision, raising revenue a bit and lowering earnings on higher operating expense. Lower EPS leads to a lower target, but still sufficiently above the current price level to warrant the Buy rating. If the TSA orders come through later in the year and in early 2012, our new numbers may be too low."
For more ratings news on Analogic Corporation click here and for the rating history of Analogic Corporation click here.
Shares of Analogic Corporation closed at $50.33 yesterday.
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