Needham & Company Reiterates a 'Buy' on Brooks Automation (BRKS); Moving Up the Value Chain by Focusing on Growth and Technology

Needham & Company reiterates a 'Buy' on Brooks Automation (NASDAQ: BRKS) price target raised from $13 to $15.

Analyst, Y. Edwin Mok, said, "BRKS reported better than expected F1Q12 (Dec) results. While strong guidance was expected given recent semicap sector strength, the projected growth rate surpassed even our more robust target. More importantly, the strong bookings trend gives mgmt confidence to project further growth into the June quarter. We believe BRKS is making great progress in growing the life science business, and coupled with new wins in semi and non-semi markets, the company will experience top and bottom-line growth over the next few quarters. With its renewed focus on growth, we continue to recommend investors buy BRKS for its growth potential...We increase our FY12 non-GAAP EPS to $0.71 and FY13 to $0.99."

For an analyst ratings summary and ratings history on Brooks Automation click here. For more ratings news on Brooks Automation click here.

Shares of Brooks Automation closed at $11.29 yesterday.

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