Needham & Company Upgrades Park Electrochemical (PKE) to Buy

Needham & Company upgraded Park Electrochemical (NYSE: PKE) from Hold to Buy with a price target of $33.00.

Analyst Sean K.F. Hannan said, " As evidenced by a strong F1Q and generally positive longer-term outlook, we believe PKE's business is in a materially better state than where it was 9-12 months ago. Through the benefit of restructurings, tangible traction in Aerospace (with supportive growth opportunities), and momentum from higher-technology communications infrastructure build-outs (primarily in China), we believe the model is now poised for better growth and earnings generation in the longer term than we previously forecasted. Consequently, we focus on the long term and upgrade our rating to Buy."

For an analyst ratings summary and ratings history on Park Electrochemical click here. For more ratings news on Park Electrochemical click here.

Shares of Park Electrochemical closed at $28.79 yesterday.

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