Ardour Capital Downgrades Ultralife (ULBI) to Hold; Uneven Returns From Certain Product Segments
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Price: $7.51 +0.94%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ardour Capital downgraded Ultralife (NASDAQ: ULBI) from Accumulate to Hold, price target lowered from $5.75 to $4.50.
Ardour analyst says, "We are conservative in the near term due to uneven returns from certain product segments. However, we are optimistic on strong demand for core battery and energy products and expect top line revenue to grow based on initiatives being taken to improve operating efficiencies. We need to see execution on management’s initiatives to get positive again. We lower our 4Q11 EPS estimate to $0.08, down from $0.24, as order uncertainty remains a concern. We apply a 14x multiple to our 2012 EPS estimate of $0.32 to arrive at our $4.50 price target."
For more ratings news on Ultralife click here and for the rating history of Ultralife click here.
Shares of Ultralife closed at $4.57 yesterday.
Ardour analyst says, "We are conservative in the near term due to uneven returns from certain product segments. However, we are optimistic on strong demand for core battery and energy products and expect top line revenue to grow based on initiatives being taken to improve operating efficiencies. We need to see execution on management’s initiatives to get positive again. We lower our 4Q11 EPS estimate to $0.08, down from $0.24, as order uncertainty remains a concern. We apply a 14x multiple to our 2012 EPS estimate of $0.32 to arrive at our $4.50 price target."
For more ratings news on Ultralife click here and for the rating history of Ultralife click here.
Shares of Ultralife closed at $4.57 yesterday.
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