Needham & Company Reiterates a 'Buy' on Maxwell Technologies (MXWL); Solid, Despite Europe

Needham & Company reiterates a 'Buy' on Maxwell Technologies (NASDAQ: MXWL) price target of $10.00 (from $18.00).

Analyst, Michael Lew, said, "The company delivered a solid quarter of results and reaffirmed its full year outlook despite a sluggish Europe backdrop. The near-term growth engine is the China market where it has become more obvious that next-generation energy technologies will be deployed to help combat pollution issues. In our view, the long-term fundamentals are very favorable for Maxwell Technologies given the various end-markets that can leverage its high performance ultracaps. We believe the current price level presents a compelling entry point for investors to own MXWL shares."

FY12 EPS estimate raised from $0.22 to $0.33 and FY13 from $0.43 to $0.46.

For an analyst ratings summary and ratings history on Maxwell Technologies click here. For more ratings news on Maxwell Technologies click here.

Shares of Maxwell Technologies closed at $6.74 yesterday.

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