Needham & Company Upgrades Multi-Fineline (MFLX) to Buy; Buy on Weakness

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May 4, 2012 8:02 AM EDT
Get Alerts MFLX Hot Sheet
Price: $17.02 -0.12%

Rating Summary:
    0 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Needham & Company upgraded Multi-Fineline (NASDAQ: MFLX) from Neutral to Buy with a price target of $27.00.

Analyst, Richard Kugele, said, "Messy F2Q? Yes. Weak F3Q guide? Again, yes. Broken story? Far from it, in our view. Stock likely lower at open? Probably, and we see the opportunity we have been waiting for. Consequently, we are upgrading MFLX, a company at the center of the smartphone and tablet adoption wave, to Buy."

Kugele lowers FY12 EPS estimate from $1.77 to $1.44, but raises FY13 from $1.88 to $2.70.

For an analyst ratings summary and ratings history on Multi-Fineline click here. For more ratings news on Multi-Fineline click here.

Shares of Multi-Fineline closed at $25.02 yesterday.

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Needham & Company