Canaccord Genuity Maintains a 'Buy' on Elster Group SE (ELT); Managing Well Through the Macro
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Price: $20.54 --0%
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
7 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Canaccord Genuity maintains a 'Buy' on Elster Group SE (NYSE: ELT) price target of $19.00.
Canaccord analyst, John Quealy, said, "Challenges pick-up in Water as expected, while Gas remains the clear outperformer and Electric markets stay mixed. That said, the breadth of Elster’s portfolio keeps the outlook resilient (~1.0x book-to-bill, guidance affirmed), while the company looks to be well positioned for smart metering order flow in the 2012+ timeframe. Overall, we like management’s approach and execution thus far. More details at the inaugural analyst day in NYC (November 18)."
"Our estimates adjust lower to account for a more challenging macro environment. 2011 revenue/adjusted EPS goes to $1.88B/$1.13 (from $1.91B/$1.15) and 2012 to $1.95B/$1.20 (from $2.04B/$1.25)."
For more ratings news on Elster Group SE click here and for the rating history of Elster Group SE click here.
Shares of Elster Group SE closed at $14.05 yesterday.
Canaccord analyst, John Quealy, said, "Challenges pick-up in Water as expected, while Gas remains the clear outperformer and Electric markets stay mixed. That said, the breadth of Elster’s portfolio keeps the outlook resilient (~1.0x book-to-bill, guidance affirmed), while the company looks to be well positioned for smart metering order flow in the 2012+ timeframe. Overall, we like management’s approach and execution thus far. More details at the inaugural analyst day in NYC (November 18)."
"Our estimates adjust lower to account for a more challenging macro environment. 2011 revenue/adjusted EPS goes to $1.88B/$1.13 (from $1.91B/$1.15) and 2012 to $1.95B/$1.20 (from $2.04B/$1.25)."
For more ratings news on Elster Group SE click here and for the rating history of Elster Group SE click here.
Shares of Elster Group SE closed at $14.05 yesterday.
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