Needham & Company Reiterates a 'Buy' on FSI International (FSII); Strong Guidance Makes 2012 a Happy New Year

Needham & Company reiterates a 'Buy' on FSI International (NASDAQ: FSII) price target raised from $3.00 to $4.50.

Needham analyst says, "FSII reported a weak F1Q12 (Nov) but provided substantially better than expected guidance. While upside was expected going into the call given multiple order announcements, we believe F2Q12 (Feb) revenue guidance still came in better than the most bullish expectation. We believe FSII has strong momentum behind its single-wafer wet and dry clean products, suggesting that revenue will remain robust beyond the current quarter. Based on its strong positions with leading capex spenders, we believe FSII will substantially outperform WFE in CY2012."

"We raise our FY12 (Aug) EPS estimate to $0.23 (from $0.09) and FY13 to $0.60 (from $0.26)."

For an analyst ratings summary and ratings history on FSI International click here. For more ratings news on FSI International click here.

Shares of FSI International closed at $3.00 yesterday.

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