FBR Capital Maintains a 'Market Perform' on Fairchild Semi (FCS); Results and Guidance Better Than Feared; Cutting Estimates Slightly
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Price: $19.86 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Fairchild Semi (NYSE: FCS), PT $25.
FBR analyst says, "Fairchild reported essentially in-line 2Q11 financial results and 3Q11 financial guidance Thursday morning before market open, better than feared in light of weakening macroeconomic trends and Microchip's disappointing commentary last week and a slight positive for FCS shares..We are cutting our 2011 pro forma EPS estimate from $1.70 to $1.62 and our 2012 estimate from $1.85 to $1.80 but maintaining our rating and $25 price target, a 13x target P/E multiple (2012). We still like share at current levels, given continuing investor skepticism and attractive valuation metrics, and think the stock can work toward $25–$30 in coming years."
For more ratings news on Fairchild Semi click here and for the rating history of Fairchild Semi click here.
Shares of Fairchild Semi closed at $16.13 yesterday.
FBR analyst says, "Fairchild reported essentially in-line 2Q11 financial results and 3Q11 financial guidance Thursday morning before market open, better than feared in light of weakening macroeconomic trends and Microchip's disappointing commentary last week and a slight positive for FCS shares..We are cutting our 2011 pro forma EPS estimate from $1.70 to $1.62 and our 2012 estimate from $1.85 to $1.80 but maintaining our rating and $25 price target, a 13x target P/E multiple (2012). We still like share at current levels, given continuing investor skepticism and attractive valuation metrics, and think the stock can work toward $25–$30 in coming years."
For more ratings news on Fairchild Semi click here and for the rating history of Fairchild Semi click here.
Shares of Fairchild Semi closed at $16.13 yesterday.
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