Needham & Company Reiterates a 'Buy' on Intevac (IVAC); Solid Quarter and Potential Material Order for 2013
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Price: $4.00 --0%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Needham & Company reiterates a 'Buy' on Intevac (NASDAQ: IVAC) price target of $10.00.
Analyst, Richard Kugele, said, "We believe the inflection point is nearing for Intevac, with the HDD industry likely nearing maximum media capacity by the end of C2012. We also see positive momentum building within the solar ion implant business, which we think could become material in 2013. Bottom line:, with the stock roughly 20% above tangible book and nearly $5 in net cash, we reiterate our rating and price target (based on a conservative 1.4x tangible book) and would encourage investors to continue to own the name ahead of Lean and Solar order announcements."
Raising FY12 EPS from (0.50) to (0.23) and revs from $116.4 mln to $125 mln.
For an analyst ratings summary and ratings history on Intevac click here. For more ratings news on Intevac click here.
Shares of Intevac closed at $8.06 yesterday.
Analyst, Richard Kugele, said, "We believe the inflection point is nearing for Intevac, with the HDD industry likely nearing maximum media capacity by the end of C2012. We also see positive momentum building within the solar ion implant business, which we think could become material in 2013. Bottom line:, with the stock roughly 20% above tangible book and nearly $5 in net cash, we reiterate our rating and price target (based on a conservative 1.4x tangible book) and would encourage investors to continue to own the name ahead of Lean and Solar order announcements."
Raising FY12 EPS from (0.50) to (0.23) and revs from $116.4 mln to $125 mln.
For an analyst ratings summary and ratings history on Intevac click here. For more ratings news on Intevac click here.
Shares of Intevac closed at $8.06 yesterday.
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