FBR Capital Reiterates an 'Outperform/Top Pick' on Orbital Sciences (ORB); Continues to Be in a Solid Position Heading into Back Half of 2011
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Price: $28.85 --0%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 1 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/Top Pick' on Orbital Sciences (NYSE: ORB), PT $30.
FBR analyst says, "We travelled with David Thompson, Orbital Sciences chairman and CEO, and Barry Beneski, head of corporate communications, last week and came away convinced that the company has a very clear revenue and operating path to achieve 20%–25% EPS growth on a compounded annual basis over the next several years. In fact, by our count, there are four different end-market opportunities that could each add at least $100.0 million in incremental revenue on an annual basis (compared to $1.35B in revenue today), which should easily make ORB the best organic growth story in the space, in our view. In the more near term, our sense is that the company should not have any trouble raising revenue guidance over the next couple of quarters, although we do think that another minor delay in the CRS launch schedule should be expected largely due to the ongoing construction and then certification of the company’s space port at Wallops Island, Virginia. However that does not come close to dampening our outlook on the company given the myriad of other substantial growth opportunities."
For more ratings news on Orbital Sciences click here and for the rating history of Orbital Sciences click here.
Shares of Orbital Sciences closed at $17.00 yesterday.
FBR analyst says, "We travelled with David Thompson, Orbital Sciences chairman and CEO, and Barry Beneski, head of corporate communications, last week and came away convinced that the company has a very clear revenue and operating path to achieve 20%–25% EPS growth on a compounded annual basis over the next several years. In fact, by our count, there are four different end-market opportunities that could each add at least $100.0 million in incremental revenue on an annual basis (compared to $1.35B in revenue today), which should easily make ORB the best organic growth story in the space, in our view. In the more near term, our sense is that the company should not have any trouble raising revenue guidance over the next couple of quarters, although we do think that another minor delay in the CRS launch schedule should be expected largely due to the ongoing construction and then certification of the company’s space port at Wallops Island, Virginia. However that does not come close to dampening our outlook on the company given the myriad of other substantial growth opportunities."
For more ratings news on Orbital Sciences click here and for the rating history of Orbital Sciences click here.
Shares of Orbital Sciences closed at $17.00 yesterday.
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