Brooks Automation (BRKS) Bullish Stance Maintained at Needham & Company

Needham & Company analyst Vernon Essi, Jr. reiterated a Buy rating and $37 price target on Brooks Automation Inc. (NASDAQ: BRKS) after management meetings.

Essi comments, "We recently met with CFO Bruce Kiddoo and Senior VP Matt Murphy to get an update on business conditions with a specific focus on the Volterra acquisition. The narrative around MarQ3 is mostly unchanged and we noticed that the level of R&D focus is more intense than in prior years. We believe MXIM's R&D efforts have been mixed in recent years, offset by much better management of just about everything else. Despite a strong price move relative to its peers in Q2, we anticipate the 2H 2014 product pipeline can generate excitement in MXIM shares, and we reiterate our Buy rating."

For an analyst ratings summary and ratings history on Brooks Automation Inc. click here. For more ratings news on Brooks Automation Inc. click here.

Shares of Brooks Automation Inc. closed at $10.71 yesterday.

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