UPDATE: Helios Tech (HLIO) PT Raised to $77 as Stifel Awaits Evidence of Intiative Success to Upgrade
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Stifel analyst Nathan Jones raised the price target on Helios Tech (NASDAQ: HLIO) to $77.00 (from $72.00) while maintaining a Hold rating noting that the company is taking internal steps to take advantage of the acquisitions and organic investments of the last several years to drive growth by expanding its addressable market and taking share.
The analyst stated "Over the last ~5 years, Helios has evolved from a component (CVT) supplier to a subsystem provider through the acquisition of Enovation Controls, the Faster Group, Balboa, and other smaller acquisitions. Leveraging technologies across the portfolio to create new products and open new markets is expected to expand Helios' addressable market, and the company has had some solid early success on this front (e.g. recently announced win with John Deere). In its Electronics business, Helios jettisoned an exclusive customer contract which has dragged on growth for the last couple of years but is expected to result in higher revenue from other customers. Helios has contracts in hand to sell these products to other customers beginning in 2021 and ramping up over the next couple of years, this growth
is to come but is not speculative."
You May Also Be Interested In
- UPDATE: Talkspace (TALK) on Watch on Chatter
- Acer Inc. (2353:TT) PT Lowered to NT$21.50 at Morgan Stanley
- Legal & General Group PLC (LGEN:LN) PT Raised to GBP3.40 at HSBC
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesStifel, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!