Close

Canaccord Genuity Reiterates a 'Buy' on Anaren (ANEN); Wireless Trends Strong, Tempering Estimates on Space & Defense

June 14, 2011 8:19 AM EDT
Get Alerts ANEN Hot Sheet
Price: $27.98 --0%

Rating Summary:
    0 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Anaren (NASDAQ: ANEN), PT $23.

Canaccord analyst, T. Michael Walkley, said, "We believe Anaren is benefitting from continued strong trends in its Wireless division due to our checks indicating strong sales trends to key customer Ericsson. However, given the continued uncertainty with potential defense budget cuts and the associated slowdown in defense procurement and contracts, we anticipate a more back-half-weighted F2012 for Anaren’s Space & Defense division...Due to solid Wireless trends offset by our more cautious Space & Defense estimates, we maintain our F2011 estimates but are slightly lowering our pro forma F2012 EPS estimate from $1.44 to $1.41."

For more ratings news on Anaren click here and for the rating history of Anaren click here.

Shares of Anaren closed at $17.24 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments