Needham & Company maintains a 'Buy' on Measurement Specialties (MEAS); Bottom Likely Behind & Prospects Improving

Needham & Company maintains a 'Buy' on Measurement Specialties (NASDAQ: MEAS) price target raised from $33 to $36.

Analyst, Sean K.F. Hannan, said, "Overall, we believe the MEAS model bottomed in F3Q as bookings now continue to rise and longer-term opportunities (i.e., urea quality and dosing) remain solid to somewhat improved. Further, organic growth may be moderately subdued in the near-term (~8% dn from 10%+), but we view this dynamic as temporary and expect MEAS to exhibit multi-quarter improvement from a revenue, margin and EPS standpoint. Consequently, we reiterate our rating."

"Our F4Q estimates become $82.5M in revs., $14.5M EBITDA, and $0.42, vs. prior $83.0M, $16.4M, and $0.51. Our F13 of $351M & $2.14 revised to $355M & $2.04."

For an analyst ratings summary and ratings history on Measurement Specialties click here. For more ratings news on Measurement Specialties click here.

Shares of Measurement Specialties closed at $33.92 yesterday.

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