Wedbush Assumes Coverage on Image Sensing Systems (ISNS) at Outperform; Funding Offsetss Q2 Miss
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Price: $6.44 --0%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush assumes coverage on Image Sensing Systems (NASDAQ: ISNS) with an Outperform. PT $7.00 (from $8.00).
Analyst, Scott Sutherland, said, "Q2 EPS missed our estimate driven by weaker-than-expected high-margin royalty revenue partially offset by higher-than-expected product revenue and lower OPEX. While encouraged by customer interest for the Autoscope Duo (hybrid) product and the enactment of MAP-21 U.S. Transportation legislation that will provide >$100 billion in funding, we temper our expectations since the benefits specific to ITS (intelligent transportation systems) are not clearcut versus emerging competitive solutions and spending remains lumpy. We believe 2012 will be a transition year, but find shares attractively valued."
For an analyst ratings summary and ratings history on Image Sensing Systems click here. For more ratings news on Image Sensing Systems click here.
Shares of Image Sensing Systems closed at $4.99 yesterday.
Analyst, Scott Sutherland, said, "Q2 EPS missed our estimate driven by weaker-than-expected high-margin royalty revenue partially offset by higher-than-expected product revenue and lower OPEX. While encouraged by customer interest for the Autoscope Duo (hybrid) product and the enactment of MAP-21 U.S. Transportation legislation that will provide >$100 billion in funding, we temper our expectations since the benefits specific to ITS (intelligent transportation systems) are not clearcut versus emerging competitive solutions and spending remains lumpy. We believe 2012 will be a transition year, but find shares attractively valued."
For an analyst ratings summary and ratings history on Image Sensing Systems click here. For more ratings news on Image Sensing Systems click here.
Shares of Image Sensing Systems closed at $4.99 yesterday.
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