Needham & Company Reiterates a 'Buy' on Spansion (CODE); Seeing Upside to Results and Guidance
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Price: $38.59 --0%
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company reiterates a 'Buy' on Spansion (NYSE: CODE) price target of $16.00.
Analyst, Rajvindra S. Gill, said, "We continue to see upside to gross margins as utilization rates improve at its internal fab. Top line continues to track in line, but bottom line could see surprise growth as a result, in our view. With Spansion’s growing opportunity in SLC NAND going forward, and what we see as compelling valuation at current prices (just 6.2x 2013E P/E), we would accumulate shares leading up to earnings...We believe an uptick in GMs by 100bps to 34% (assuming a flat revenue trend), could lead to an approximate $0.70 increase in our 2012 EPS estimate."
For an analyst ratings summary and ratings history on Spansion click here. For more ratings news on Spansion click here.
Shares of Spansion closed at $10.61 yesterday.
Analyst, Rajvindra S. Gill, said, "We continue to see upside to gross margins as utilization rates improve at its internal fab. Top line continues to track in line, but bottom line could see surprise growth as a result, in our view. With Spansion’s growing opportunity in SLC NAND going forward, and what we see as compelling valuation at current prices (just 6.2x 2013E P/E), we would accumulate shares leading up to earnings...We believe an uptick in GMs by 100bps to 34% (assuming a flat revenue trend), could lead to an approximate $0.70 increase in our 2012 EPS estimate."
For an analyst ratings summary and ratings history on Spansion click here. For more ratings news on Spansion click here.
Shares of Spansion closed at $10.61 yesterday.
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