Canaccord Genuity Reiterates a 'Buy' on Anaren (ANEN); Soft Wireless Sales and Push-out of Space & Defense Contracts Force Pre-Announcement
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Price: $27.98 --0%
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Canaccord Genuity reiterates a 'Buy' on Anaren (NASDAQ: ANEN) price target lowered $1 to $25.
Canaccord analyst, T. Michael Walkley, says, "Anaren negatively pre-announced September quarter results last evening, now estimating revenue for Q1/F2012 at $38.7M versus our previous estimate of $43.1M and previous guidance of $40M-$46M, with pro forma EPS of $0.19-$0.21 versus our previous $0.29 and prior guidance of $0.27-$0.32. We have lowered estimates and our price target, but reiterate our rating as we believe Anaren’s Space & Defense backlog is solid and wireless capex trends remain strong longer term...We are lowering our F2012 pro forma EPS estimate to $1.21 from $1.40 and our F2013 estimate to $1.54 from $1.63."
For more ratings news on Anaren click here and for the rating history of Anaren click here.
Shares of Anaren closed at $21.51 yesterday.
Canaccord analyst, T. Michael Walkley, says, "Anaren negatively pre-announced September quarter results last evening, now estimating revenue for Q1/F2012 at $38.7M versus our previous estimate of $43.1M and previous guidance of $40M-$46M, with pro forma EPS of $0.19-$0.21 versus our previous $0.29 and prior guidance of $0.27-$0.32. We have lowered estimates and our price target, but reiterate our rating as we believe Anaren’s Space & Defense backlog is solid and wireless capex trends remain strong longer term...We are lowering our F2012 pro forma EPS estimate to $1.21 from $1.40 and our F2013 estimate to $1.54 from $1.63."
For more ratings news on Anaren click here and for the rating history of Anaren click here.
Shares of Anaren closed at $21.51 yesterday.
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