Needham & Company Reiterates a 'Buy' on Measurement Specialties (MEAS); Tempered F2Q Results & Outlook, But Recent Acquisitions Should Provide Support

Needham & Company reiterates a 'Buy' on Measurement Specialties (NASDAQ: MEAS) price target of $33.00.

Needham analyst says, "While the macro sluggishness and uncertainty is tempering organic biz order flow from customers, recent strategic acquisitions (and diverse wins) should help provide balance with only a slightly reduced outlook in aggregate. We believe recent acquisitions of Celesco and Gentech enhance the model as well as the strategic product roadmap that should help
drive longer-term growth. Overall, we still believe MEAS has a high degree of visibility in its business, and we remain positive on prospects."

"Adjusting Estimates. Our F3Q estimates become $79M in revs., $14.2M EBITDA, and $0.39, vs. prior $77.0M, $15.5M, and $0.48. F12 now $313M in revs, $58.8M EBITDA, & $1.82 (EPS lower largely due to taxes & amort), vs. prior $308M, $61.7M EBITDA, & $1.94."

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 $28.21 yesterday.

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