Auriga Maintains a 'Buy' on Intevac (IVAC); F2Q11 Upside Pulled From 3Q
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Price: $4.00 --0%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 19
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Auriga maintains a 'Buy' on Intevac (NASDAQ: IVAC) price target of $18.00.
Auriga analyst says, "Intevac reported modest upside to F2Q11 results, but is modestly guiding down full year results due to continued government budget delays in Photonics and continuing push-outs in solar. There is no change to our 2012 estimates at this time, and 2012 is really the key year for the Intevac story in our view. While 2011 is clearly going to be a rough year for the core HDD equipment business, we believe it will throw off decent cash flow over time. Meanwhile, potentially large long term growth opportunities in both Photonics and Solar continue to be misunderstood and unappreciated. A sum-of-parts value of $21 and DCF value of $18 suggest there is good upside potential here for either value or growth investors willing to ride out a tough 2011."
For more ratings news on Intevac click here and for the rating history of Intevac click here.
Shares of Intevac closed at $9.90 yesterday.
Auriga analyst says, "Intevac reported modest upside to F2Q11 results, but is modestly guiding down full year results due to continued government budget delays in Photonics and continuing push-outs in solar. There is no change to our 2012 estimates at this time, and 2012 is really the key year for the Intevac story in our view. While 2011 is clearly going to be a rough year for the core HDD equipment business, we believe it will throw off decent cash flow over time. Meanwhile, potentially large long term growth opportunities in both Photonics and Solar continue to be misunderstood and unappreciated. A sum-of-parts value of $21 and DCF value of $18 suggest there is good upside potential here for either value or growth investors willing to ride out a tough 2011."
For more ratings news on Intevac click here and for the rating history of Intevac click here.
Shares of Intevac closed at $9.90 yesterday.
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