Brooks Automation (BRKS) on Its Way Back to Profitability - Analyst

In filings on Tuesday, Brooks Automation Inc. (NASDAQ: BRKS) outlined cost saving synergies associated with its recent acquisition of Crossing Automation Inc. Commenting on developments, Needham and Company analyst Y. Edwin Mok said cost savings will bring back profitability.

"While business in the current quarter has been very challenging, as indicated by the very weak guidance, recent positive datapoints give us confidence that business should recover in the March quarter and potentially beyond," said Mok.

"We believe BRKS is investing appropriately by focusing on design wins, integrating Cross Automation and continuing to grow the life science," added the analyst.

Needham & Company has a Buy rating on Brooks Automation Inc. (NASDAQ: BRKS) with a price target of $9.00.

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 $7.81 yesterday.

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