Needham & Company Reiterates a 'Buy' on ESCO Technologies (ESE); In-Line F4Q. F12 Outlook Appears Steady Ahead Of Expectations For Strong F13

Needham & Company reiterates a 'Buy' on ESCO Technologies (NYSE: ESE) price target of $34.00.

Needham analyst says, "While the macro environment may be weighing on other names in our universe, ESE’s non-grid oriented business is performing well. Looking to the utility side of its business, Doble is exhibiting double-digit growth while Aclara sits in what we view as a very temporary pause ahead of the massive So Cal Gas ramp."

"Our Dec. est. now $154M revs. & $0.26 ($0.33 ex. amort.), vs. prior $167M & $0.48 (or, $0.56). Our F12 now $723M & $2.13 vs. prior $747M & $2.40. F13 est. is $838M & $2.82."

For an analyst ratings summary and ratings history on ESCO Technologies click here. For more ratings news on ESCO Technologies click here.

Shares of ESCO Technologies closed at $30.29 yesterday.

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