Jefferies Maintains a 'Buy' on Esterline Tech (ESL); Raising Numbers After Positive Q1
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Price: $122.49 --0%
Rating Summary:
1 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies maintains a 'Buy' on Esterline Tech (NYSE: ESL) price target raised from $65 to $75.
Analyst, Howard A. Rubel, said, "EPS of $0.73 were sharply ahead of our $0.46 per share estimate. Mix lifted Gross Margin and was the major factor behind $0.17 of better-than-expected operating performance. Our estimate had included the $0.25 per share inventory item. The remaining $0.10 per share was largely due to a one-time tax benefit generated in France...We are raising our FY12 EPS estimate to $5.25 from $5.10, giving mix and tax credit the benefit of our new estimate. The company has an EPS range of $5.10 to $5.40 for FY12. It boosted its prior outlook by $0.10 per share. We continue to estimate $5.70 for FY13."
For an analyst ratings summary and ratings history on Esterline Tech click here. For more ratings news on Esterline Tech click here.
Shares of Esterline Tech closed at $64.18 yesterday.
Analyst, Howard A. Rubel, said, "EPS of $0.73 were sharply ahead of our $0.46 per share estimate. Mix lifted Gross Margin and was the major factor behind $0.17 of better-than-expected operating performance. Our estimate had included the $0.25 per share inventory item. The remaining $0.10 per share was largely due to a one-time tax benefit generated in France...We are raising our FY12 EPS estimate to $5.25 from $5.10, giving mix and tax credit the benefit of our new estimate. The company has an EPS range of $5.10 to $5.40 for FY12. It boosted its prior outlook by $0.10 per share. We continue to estimate $5.70 for FY13."
For an analyst ratings summary and ratings history on Esterline Tech click here. For more ratings news on Esterline Tech click here.
Shares of Esterline Tech closed at $64.18 yesterday.
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