Imperial Capital Upgrades FLIR Systems, Inc. (FLIR) to Outperform

Imperial Capital analyst Jeff Kessler upgraded FLIR Systems, Inc. (NASDAQ: FLIR) from In-Line to Outperform with a price target of $57.00 (from $56.00).

The analyst comments "We are raising our price target and rating on our belief that prospects for FLIR’s safe cities and other civilian projects will improve starting in 2020, based on recent conferences we have attended. We are looking for any combination of new government project wins or higher margin areas of Industrial or Commercial that could drive revenue growth close to 5% and operating margins closer to 23%-plus, compared to 22%. We believe the company can efficiently manage its business and pay down debt with free cash flows. We are uncertain about the growth rate despite the optimistic stance by management on its business pipeline, as well as acquisitions which should create more organic revenue growth by 2020."

For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.

Shares of FLIR Systems, Inc. closed at $49.67 yesterday.

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Benchmark Reiterates Buy Rating on Rank One Computing (ROC)
• Freedom Broker Upgrades Taylor Devices, Inc. (TAYD) to Buy