Needham & Company Reiterates a 'Buy' on ESCO Technologies (ESE); F1Q Miss Vs. Street, But Healthy Guidance/Outlook Intact

Needham & Company reiterates a 'Buy' on ESCO Technologies (NYSE: ESE) price target raised from $34 to $36.

Analyst, Sean H.F. Hannan, said, "Overall, we continue to have a positive view of ESE's diversified business as non-utility areas are performing well (particularly Filtration revs and margins) while the utility related businesses of Doble and Aclara appear to be well-positioned for a strong multi-year surge in activity. With strong bookings and internal investments becoming more tempered, we expect solid margin expansion over the next 1-2 years without much reliance on an uplift in the macro environment."

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 $32.63 yesterday.

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