Dougherty & Co Upgrades GeoEye (GEOY) to Buy; Clarity Presents Favorable Risk/Reward
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Price: $35.83 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co upgraded GeoEye (NASDAQ: GEOY) to Buy, price target raised from $20 to $28.
Analyst, Andrea James, said, "GeoEye reported strong Q411 results on Tuesday and issued FY12 guidance for slow growth that was largely in-line with street expectations...More importantly, GeoEye gave an update on its plans for its GeoEye-2 satellite launch that, we believe, should improve investor sentiment on the stock. The first piece of incrementally positive information is that a $111MM cost share payment from the NGA has been pre-budgeted for, and thus is still expected to arrive within the next few months. Second, GeoEye plans to continue with its launch of the GeoEye-2 satellite in mid-2013, regardless of the uncertain outcome in government budget negotiations. In our view, this is an important strategic decision that will help GeoEye to maintain competitiveness with DigitalGlobe (NYSE: DGI)(Buy, $23).
For an analyst ratings summary and ratings history on GeoEye click here. For more ratings news on GeoEye click here.
Shares of GeoEye closed at $22.34 yesterday.
Analyst, Andrea James, said, "GeoEye reported strong Q411 results on Tuesday and issued FY12 guidance for slow growth that was largely in-line with street expectations...More importantly, GeoEye gave an update on its plans for its GeoEye-2 satellite launch that, we believe, should improve investor sentiment on the stock. The first piece of incrementally positive information is that a $111MM cost share payment from the NGA has been pre-budgeted for, and thus is still expected to arrive within the next few months. Second, GeoEye plans to continue with its launch of the GeoEye-2 satellite in mid-2013, regardless of the uncertain outcome in government budget negotiations. In our view, this is an important strategic decision that will help GeoEye to maintain competitiveness with DigitalGlobe (NYSE: DGI)(Buy, $23).
For an analyst ratings summary and ratings history on GeoEye click here. For more ratings news on GeoEye click here.
Shares of GeoEye closed at $22.34 yesterday.
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