Auriga Maintains a 'Buy' on Intevac (IVAC); Remains a Wait-and-See Story; Reducing Estimates & PT

Auriga maintains a 'Buy' on Intevac (NASDAQ: IVAC) price target cut $1 to $15.

Auriga analyst said, "Intevac reported December quarter results about as expected, and also guided to a back-loaded 2012 that is roughly in-line with Street consensus though somewhat below our more aggressive estimates. While there is significant uncertainty around the core HDD equipment business for 2012, we believe it will throw off decent cash flow over time, and continue to believe there are potentially large long term growth opportunities in both Photonics and Solar. We reduce our above consensus estimates for 2012 and take our price target down to $15, but note this still represents significant upside potential from the current share price, thus we maintain our rating for either value or growth investors."

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

Shares of Intevac closed at $8.33 yesterday.

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