Needham & Company Downgrades Analogic Corporation (ALOG) to Hold; Valuation Call; Cutting Estimates on Miss

Needham & Company downgraded Analogic Corporation (NASDAQ: ALOG) from Buy to Hold.

Analyst, Dalton Chandler, said, "ALOG shares closed a dollar short of our $66 target last night and reported a quarter that fell short of our estimates. Since we are taking estimates down a bit this morning we also downgrade from Buy to Hold. We think ALOG shares appear to be fairly valued at this level, especially when compared to its peer group."

Needham lowers FY12 EPS estimates from $3.40 to $3.19 and FY13 from $3.26 to $3.13.

For an analyst ratings summary and ratings history on Analogic Corporation click here. For more ratings news on Analogic Corporation click here.

Shares of Analogic Corporation closed at $65.00 yesterday.

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