Needham & Company Trims Price Target on Measurement Specialties (MEAS) But Maintains Bullish View

Needham & Company Buy trimmed its price target on Measurement Specialties (NASDAQ: MEAS) from $37 to $35 but maintained a Buy rating on the stock on positive results.

The firm comments, "MEAS continues to execute through “singles and doubles” on specific design wins, which support its broad customer and program diversity in addition to providing growth above a sluggish macro environment. Considering further leverage opportunities in the model, we expect MEAS to drive double-digit earnings growth over coming quarters. Consequently, we reiterate our Buy rating but conservatively nudge down our multiple (considering markets) to 8x (from ~8-9x) and implying a $35 target (from $37) based our C12 EBITDA forecast of ~$71 millioN."


For more ratings news on Measurement Specialties click here and for the rating history of Measurement Specialties click here.

Shares of Measurement Specialties closed at $28.72 yesterday.

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