Needham & Company Maintains a 'Buy' on KVH Industries (KVHI); Light 2Q11 Results and Guide on Leisure (Again), But Maritime Broadband Product Cycle Remains Intact
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Price: $7.98 +1.01%
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 1 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 KVH Industries (NASDAQ: KVHI) price target lowered $1 to $14.
Needham analyst says, "We view KVH’s mini-VSAT broadband business as one of the most exciting product cycles in our coverage, with ~80% y/y revenue growth in 2Q11 and potential for substantial operating leverage now that the deployment of its global network footprint is largely complete. That said, despite the strong progress on the mini-VSAT front, our estimates have seen a steadily downward progression over the last few quarters, which admittedly makes it difficult to have high conviction in our new estimates. Still, given the pullback in the shares and our enthusiasm for the mini-VSAT product cycle, we reiterate our Buy for investors willing to tolerate some volatility. Our PT is trimmed to $14 (was $15) based on an 18x multiple applied to our C2012 PF EPS estimate plus $1.89/sh of net cash."
For more ratings news on KVH Industries click here and for the rating history of KVH Industries click here.
Shares of KVH Industries closed at $9.57 yesterday.
Needham analyst says, "We view KVH’s mini-VSAT broadband business as one of the most exciting product cycles in our coverage, with ~80% y/y revenue growth in 2Q11 and potential for substantial operating leverage now that the deployment of its global network footprint is largely complete. That said, despite the strong progress on the mini-VSAT front, our estimates have seen a steadily downward progression over the last few quarters, which admittedly makes it difficult to have high conviction in our new estimates. Still, given the pullback in the shares and our enthusiasm for the mini-VSAT product cycle, we reiterate our Buy for investors willing to tolerate some volatility. Our PT is trimmed to $14 (was $15) based on an 18x multiple applied to our C2012 PF EPS estimate plus $1.89/sh of net cash."
For more ratings news on KVH Industries click here and for the rating history of KVH Industries click here.
Shares of KVH Industries closed at $9.57 yesterday.
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