Needham & Company Maintains a 'Buy' on Brooks Automation (BRKS); Lowering PT and Estimates
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Price: $113.10 --0%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Brooks Automation Inc. (NASDAQ: BRKS), lowers PT from $15 to $13.
Needham analyst said, "Yesterday after market close, BRKS announced that it has completed the sale of the contract manufacturing operations to Celestica (NYSE: CLS)(Not Rated). We believe the divestiture is the first step in transforming BRKS to a more diversified and technology-focused business. While the updated guidance reflects softness in the core semi equipment business, we continue to like BRKS’s longer-term growth strategy, which focus the company in several new adjacent markets, including Life Science and LED."
"Based on the updated guidance reflecting the moderation in the semicap space, we lower our FY11 non-GAAP EPS to $1.42 (from $1.53) and FY12 to $1.10 (from $1.20)."
For more ratings news on Brooks Automation Inc. click here and for the rating history of Brooks Automation Inc. click here.
Shares of Brooks Automation Inc. closed at $10.51 yesterday.
Needham analyst said, "Yesterday after market close, BRKS announced that it has completed the sale of the contract manufacturing operations to Celestica (NYSE: CLS)(Not Rated). We believe the divestiture is the first step in transforming BRKS to a more diversified and technology-focused business. While the updated guidance reflects softness in the core semi equipment business, we continue to like BRKS’s longer-term growth strategy, which focus the company in several new adjacent markets, including Life Science and LED."
"Based on the updated guidance reflecting the moderation in the semicap space, we lower our FY11 non-GAAP EPS to $1.42 (from $1.53) and FY12 to $1.10 (from $1.20)."
For more ratings news on Brooks Automation Inc. click here and for the rating history of Brooks Automation Inc. click here.
Shares of Brooks Automation Inc. closed at $10.51 yesterday.
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