Needham & Company Maintains a 'Hold' on Pulse Electronics (PULS); Tweaking Back Estimates For More Moderate Business Recovery

Needham & Company maintains a 'Hold' on Pulse Electronics (NYSE: PULS).

Needham analyst says, "Overall, we continue to hold the view that PULS is making solid progress in efforts to cut costs as well as rebuilding its antenna business. However, part of the equation relies on improving revenues, which we believe have troughed, but may not recover as quickly as we previously forecasted. Considering valuation on our revised numbers and our opinion that a higher offer from Bel Fuse (Nasdaq: BELFB) is not likely to materialize, we reiterate our Hold."

"Tweaking back estimates. For June, now $92.5M & loss of $0.01 (ex. opt.), vs. prior $93.5M & ~breakeven. For ’11, now $391M & $0.17, vs. prior $404M & $0.25."

For more ratings news on Pulse Electronics click here and for the rating history of Pulse Electronics click here.

Shares of Pulse Electronics closed at $4.46 yesterday.

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