Needham & Company reiterates a 'Buy' on Measurement Specialties (MEAS); Lower Estimates, But Program Diversity & Health Still Solid In Big Picture

Needham & Company reiterates a 'Buy' on Measurement Specialties (NASDAQ: MEAS) price target lowered from $35 to $33.

Needham analyst says, "Overall, we still see MEAS as a high value-add sensor provider with particularly strong program and customer diversity and the ability to drive double-digit growth even in a spotty near-term macro environment. However, as many of our checks suggest that some softness has materialized and that demand is somewhat sluggish (as outlined in our industry piece today), we believe investors would be prudent to bring in expectations over the next 2-3 quarters. Consequently, we reiterate our Buy, but reduce our target."

"For F2Q, we now expect $76 million in revs., $14.8 million EBITDA & $0.45, vs. our prior $77 million, $15.6 million and $0.49. For F12, we are forecasting $308 million, $61.7 million EBITDA, and $1.94, vs. prior $316 million, $65 million and $2.10."

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 $26.75 yesterday.

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