Canaccord Genuity Maintains a 'Buy' on Cogo Group (COGO); Adjusting Numbers
Tweet
Share
E-mailGet Alerts COGO Hot Sheet
Price: $2.39 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Buy' on Cogo Group (NASDAQ: COGO) price target raised from $4.00 to $5.00.
Analyst, T. Michael Walkley, said, "Cogo reported Q4/11 results above our estimates as strength in the Telecom business and from large blue chip customers drove the upside despite expected margin pressure. However, Cogo CEO Jeffrey Kang proposed to the board his plans to purchase a series of operating entities comprising roughly 30% of Cogo’s revenue, assets, and liabilities with an expected purchase price of $60-82M. Given the proposed transaction and improved balance sheet, we are increasing our price target."
"Given Cogo anticipates a similar business mix throughout 2012, we believe gross margin could remain below 10% levels. Therefore, we are lowering our 2012 pro forma EPS estimate from $0.37 to $0.36 and introducing our 2013 pro forma EPS estimate of $0.45."
For an analyst ratings summary and ratings history on Cogo Group click here. For more ratings news on Cogo Group click here.
Shares of Cogo Group closed at $1.94 yesterday.
Analyst, T. Michael Walkley, said, "Cogo reported Q4/11 results above our estimates as strength in the Telecom business and from large blue chip customers drove the upside despite expected margin pressure. However, Cogo CEO Jeffrey Kang proposed to the board his plans to purchase a series of operating entities comprising roughly 30% of Cogo’s revenue, assets, and liabilities with an expected purchase price of $60-82M. Given the proposed transaction and improved balance sheet, we are increasing our price target."
"Given Cogo anticipates a similar business mix throughout 2012, we believe gross margin could remain below 10% levels. Therefore, we are lowering our 2012 pro forma EPS estimate from $0.37 to $0.36 and introducing our 2013 pro forma EPS estimate of $0.45."
For an analyst ratings summary and ratings history on Cogo Group click here. For more ratings news on Cogo Group click here.
Shares of Cogo Group closed at $1.94 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer
- Keefe, Bruyette & Woods Resumes Toronto-Dominion Bank (TD:CN) (TD) at Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
