Brean Murray Carret & Co. Maintains a 'Buy' on Xyratex (XRTX); Strong Nov Q and Feb Q Guide - But Thesis Remains on Track
Tweet
Share
E-mailGet Alerts XRTX Hot Sheet
Price: $2.04 +0.99%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
Brean Murray Carret & Co. maintains a 'Buy' on Xyratex (NASDAQ: XRTX) price target of $17.00.
Brean analyst says, "Better-than-expected Nov Q revenue and EPS and a better-than-Street Feb Q EPS guide leaves our thesis right on track. Although not yet giving 2012 guidance given a lack of visibility into absolute hard drive supply, our take is that XRTX is essentially leaving its revenue commentary heading into 2012 unchanged (so we're staying at $1.2 bln in storage system revenue, although tweaking up our hard drive equipment revenue to $200 mln from $150 mln to account for incremental orders from Western Digital (NYSE: WDC)(Buy-rated)...Our CY12 revenue and EPS rise to $1.4 bln and $1.80 from $1.35 bln and $1.34. We could see potential for EPS upside to ~$2.00 depending on demand and mix of both the storage systems and drive equipment business."
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $14.16 yesterday.
Brean analyst says, "Better-than-expected Nov Q revenue and EPS and a better-than-Street Feb Q EPS guide leaves our thesis right on track. Although not yet giving 2012 guidance given a lack of visibility into absolute hard drive supply, our take is that XRTX is essentially leaving its revenue commentary heading into 2012 unchanged (so we're staying at $1.2 bln in storage system revenue, although tweaking up our hard drive equipment revenue to $200 mln from $150 mln to account for incremental orders from Western Digital (NYSE: WDC)(Buy-rated)...Our CY12 revenue and EPS rise to $1.4 bln and $1.80 from $1.35 bln and $1.34. We could see potential for EPS upside to ~$2.00 depending on demand and mix of both the storage systems and drive equipment business."
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $14.16 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
- Goldman Sachs Downgrades AAC Technologies Holdings Inc. (2018:HK) (AACAY) to Neutral
- Deere (DE) PT Raised to $585 at JPMorgan
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Brean Murray Carret & Co.Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
