Needham & Company Maintains a 'Buy' on KVH Industries (KVHI); Adjusting Numbers To Reflect Recent Developments

Needham & Company maintains a 'Buy' on KVH Industries (NASDAQ: KVHI) price target of $16.00 (from $12.00).

Analyst, Richard Valera, said, "We view KVH’s mini-VSAT broadband business as one of the more exciting product cycles in our coverage, with revenue growth approaching 50% expected in 2012 and potential for substantial operating leverage in 2H12 post the launch of the new C-band footprint. While there have admittedly been repeated frustrations over the last two years with seemingly steady downward guidance/estimate revisions, we are cautiously optimistic that a combination of increased visibility for G&S afforded by the company’s recent $36MM TACNAV award, and the completion of the mini-VSAT investment cycle, should serve to reverse this trend."

FY13 EPS estimate raised from $0.59 to $0.80. FY13 revenues boosted from $146.6M to $159.6M.

For an analyst ratings summary and ratings history on KVH Industries click here. For more ratings news on KVH Industries click here.

Shares of KVH Industries closed at $12.92 yesterday.

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