Oppenheimer Maintains an 'Outperform' on ESCO Technologies (ESE); Better Than Expected Quarter; Bridge to Robust FY13 Remains Sturdy
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Price: $305.86 +1.68%
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Oppenheimer maintains an 'Outperform' on ESCO Technologies (NYSE: ESE) price target lowered $2 to $44.
Oppenheimer analyst said, "ESE reported FY3Q results of $0.49, exceeding our $0.46 estimate and consensus of $0.45 driven by better revenues vs. our expectations partially offset by lower margins as a result of increased USG investment. Despite results exceeding expectations, management reaffirmed 10-15% sales/EPS growth guidance for the year. Long-term our thesis remains solidly intact and we believe the FY12 bridge to FY13, when the SoCalGas project drives outsized growth, is firmly grounded. Lowering our price target to $44 from $46 on a more conservative multiple in the face of the current market environment."
For more ratings news on ESCO Technologies click here and for the rating history of ESCO Technologies click here.
Shares of ESCO Technologies closed at $34.04 yesterday.
Oppenheimer analyst said, "ESE reported FY3Q results of $0.49, exceeding our $0.46 estimate and consensus of $0.45 driven by better revenues vs. our expectations partially offset by lower margins as a result of increased USG investment. Despite results exceeding expectations, management reaffirmed 10-15% sales/EPS growth guidance for the year. Long-term our thesis remains solidly intact and we believe the FY12 bridge to FY13, when the SoCalGas project drives outsized growth, is firmly grounded. Lowering our price target to $44 from $46 on a more conservative multiple in the face of the current market environment."
For more ratings news on ESCO Technologies click here and for the rating history of ESCO Technologies click here.
Shares of ESCO Technologies closed at $34.04 yesterday.
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