Canaccord Genuity Maintains a 'Buy' on Orion Energy Systems (OESX); Anticipating a Strong Second Half
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Price: $22.05 -0.77%
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
Rating Summary:
5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
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Canaccord Genuity maintains a 'Buy' on Orion Energy Systems (NYSE: OESX) price target of $5.00.
Canaccord analyst, Eric Prouty, says, "Sept. quarter results were slightly disappointing, in our view, though the strong sequential growth in backlog to record levels is encouraging. We continue to believe a well-executed strategic acquisition or joint venture would provide additional scale to grow earnings and could help rejuvenate investor interest in the stock."
"We make minor changes to our model following the Sept. quarter results. Specifically, we adjust our F2012 revenue estimate to $111M, from $115M previously. Our F2012 EPS estimate goes to $0.18, from $0.19. We make no changes to our F2013 revenue/EPS estimates of $130M/$0.31."
For more ratings news on Orion Energy Systems click here and for the rating history of Orion Energy Systems click here.
Shares of Orion Energy Systems closed at $2.92 yesterday.
Canaccord analyst, Eric Prouty, says, "Sept. quarter results were slightly disappointing, in our view, though the strong sequential growth in backlog to record levels is encouraging. We continue to believe a well-executed strategic acquisition or joint venture would provide additional scale to grow earnings and could help rejuvenate investor interest in the stock."
"We make minor changes to our model following the Sept. quarter results. Specifically, we adjust our F2012 revenue estimate to $111M, from $115M previously. Our F2012 EPS estimate goes to $0.18, from $0.19. We make no changes to our F2013 revenue/EPS estimates of $130M/$0.31."
For more ratings news on Orion Energy Systems click here and for the rating history of Orion Energy Systems click here.
Shares of Orion Energy Systems closed at $2.92 yesterday.
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