Goldman Sachs Removes Aeroflex Holding (ARX) from 'Conviction Buy' List; Lowers Numbers

Goldman Sachs maintains a 'Buy' on Aeroflex Holding (NYSE: ARX) price target lowered from $14 to $12.

Goldman analyst says, "We are removing Aeroflex from the Americas Conviction List as it has outperformed despite significant P&L volatility. Since we added ARX to the Conviction List on 9/15/11, it is up 29%, ahead of the SOX and S&P 500, each up 12%."

"We are disappointed with the muted revenue guidance but maintain our Buy rating as we continue to view Aeroflex as a potential M&A candidate given its differentiated high reliability (HiRel) microelectronics (about 25% of total company sales) and 4G LTE test (about 15% of total sales) portfolios...Our EPS estimates are now $0.70/$1.10 from $1.15/$1.25 for CY 2012 and 2013."

For an analyst ratings summary and ratings history on Aeroflex Holding click here. For more ratings news on Aeroflex Holding click here.

Shares of Aeroflex Holding closed at $12.94 yesterday.

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