Needham & Company Maintains a 'Buy' on Emulex (ELX); Upbeat Investor Meetings in NYC and Boston
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Price: $7.99 --0%
Rating Summary:
4 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Emulex (NYSE: ELX) price target raised from $10 to $10.50.
Needham analyst says, "Demand trends in F2Q appear solid/healthy. ELX appears on track to meet its guidance (EPS $0.17-0.20 on $121M-127M, Street $0.17 on $124). Although ELX is not providing specific C’12 guidance our sense is ELX is targeting ~10%+ rev. growth (~$530M), GM 62-63%, OPEX flatish, which would imply potential EPS ~$0.80 (vs. Street $0.67 on $508M). ELX ultimately targeting 20% op.% suggesting EPS growth 2x rev. Key risks include Romley (expect Feb. announce/March ship with server platform rollouts staged over 6 months) and potential enterprise HDD shortfall delaying some storage/network related shipments. Key updated forecasts from OEMs in late C4Q. ELX indicated it is not seeing server shipment delays in front of Romley availability."
For an analyst ratings summary and ratings history on Emulex click here. For more ratings news on Emulex click here.
Shares of Emulex closed at $8.26 yesterday.
Needham analyst says, "Demand trends in F2Q appear solid/healthy. ELX appears on track to meet its guidance (EPS $0.17-0.20 on $121M-127M, Street $0.17 on $124). Although ELX is not providing specific C’12 guidance our sense is ELX is targeting ~10%+ rev. growth (~$530M), GM 62-63%, OPEX flatish, which would imply potential EPS ~$0.80 (vs. Street $0.67 on $508M). ELX ultimately targeting 20% op.% suggesting EPS growth 2x rev. Key risks include Romley (expect Feb. announce/March ship with server platform rollouts staged over 6 months) and potential enterprise HDD shortfall delaying some storage/network related shipments. Key updated forecasts from OEMs in late C4Q. ELX indicated it is not seeing server shipment delays in front of Romley availability."
For an analyst ratings summary and ratings history on Emulex click here. For more ratings news on Emulex click here.
Shares of Emulex closed at $8.26 yesterday.
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