Needham & Company Reiterates a 'Buy' on Netlist (NLST); Adjusting Estimates on Mixed 1Q Results
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Price: $5.88 +18.55%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Netlist (NASDAQ: NLST) price target lowered from $4.50 to $4.00.
Analyst, Richard Kugele, "Following a number of recent earnings calls (including QLogic (Nasdaq: QLGC) and Intel (Nasdaq: INTC)) it was evident that the supply of Romley-based servers was delayed by a few weeks to a couple months depending on the vendor. Consequently, it comes as little surprise that our estimates are shifting by roughly one quarter to reflect this delay. However, our optimism in Netlist’s prospects is undiminished as we believe what really matters are the product announcements/ramps from IBM (NYSE: IBM) and HP (NYSE: HPQ) (see yesterday’s release) which we think provide proof of NLST’s unique position for HCDIMMs."
"Adjusting estimates. 2Q becomes $13.6M/($0.07) vs. $18.3M/($0.04). 2012 est. go to $63.6M/($0.16) vs. $81.3M/($0.08), 2013 est. go to $100.3M/$0.21 vs. $102M/$0.13. Reiterate Buy, while adjusting target from $4.50 to $4 based on ~1.5x our lowered NTM sales. Ultimately, the ramp of HCDIMMs is THE catalyst for this name, in our view.
For an analyst ratings summary and ratings history on Netlist click here. For more ratings news on Netlist click here.
Shares of Netlist closed at $2.19 yesterday.
Analyst, Richard Kugele, "Following a number of recent earnings calls (including QLogic (Nasdaq: QLGC) and Intel (Nasdaq: INTC)) it was evident that the supply of Romley-based servers was delayed by a few weeks to a couple months depending on the vendor. Consequently, it comes as little surprise that our estimates are shifting by roughly one quarter to reflect this delay. However, our optimism in Netlist’s prospects is undiminished as we believe what really matters are the product announcements/ramps from IBM (NYSE: IBM) and HP (NYSE: HPQ) (see yesterday’s release) which we think provide proof of NLST’s unique position for HCDIMMs."
"Adjusting estimates. 2Q becomes $13.6M/($0.07) vs. $18.3M/($0.04). 2012 est. go to $63.6M/($0.16) vs. $81.3M/($0.08), 2013 est. go to $100.3M/$0.21 vs. $102M/$0.13. Reiterate Buy, while adjusting target from $4.50 to $4 based on ~1.5x our lowered NTM sales. Ultimately, the ramp of HCDIMMs is THE catalyst for this name, in our view.
For an analyst ratings summary and ratings history on Netlist click here. For more ratings news on Netlist click here.
Shares of Netlist closed at $2.19 yesterday.
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