Needham & Company Reiterates a 'Buy' on ESCO Technologies (ESE); High Quality Name With A Diversified Business & Secular Trends During The Downturn

Needham & Company reiterates a 'Buy' on ESCO Technologies (NYSE: ESE) price target lowered from $40 to $34.

Needham analyst says, "In the midst of macro fears, ESE stands out in our smart grid universe as a quality name with solid multi-year revenue and earnings growth prospects through a diversified model and a strong secular story. Our industry checks indicate that business remains healthy. Trading near 1 & 7 year lows despite improving prospects, we view shares as undervalued at 8.5x our C12 est. of $2.87 (ex. amort.)."

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 $24.39 yesterday.

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