Needham & Company Reiterates a 'Buy' on Maxwell Technologies (MXWL); Bus Driving The Quarter

Needham & Company reiterates a 'Buy' on Maxwell Technologies (NASDAQ: MXWL) price target of $23.00.

Analyst, Michael Lew, said, "The solid 4Q11 financial performance was driven by strong demand from the hybrid electric bus market. Additional opportunities should emerge in the high-volume auto industry given the global focus on fuel efficiency. We believe Maxwell Technologies is well positioned to benefit from growing demand across multiple end-markets based on its leading share position."

"The strong top line momentum should continue throughout 2012, after a slight pause in 1Q due to the Chinese New Year. We are adjusting our near-term estimates to reflect this annual occurrence. However, we are reducing our EPS estimates to reflect the additional expense that will be incurred with the start-up of the Peoria facility during the year." (FY12 lowered from $0.62 to $0.45)

For an analyst ratings summary and ratings history on Maxwell Technologies click here. For more ratings news on Maxwell Technologies click here.

Shares of Maxwell Technologies closed at $21.04 yesterday.

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