Imperial Capital Lifts PT on Cubic (CUB) to $56
Imperial Capital boosted its price target on Outperform-rated Cubic (NYSE: CUB) from $54 to $56 following Q2 results citing improved Cubic Transportation Systems (CTS) expectations for 2014 and defense margin improvements.
Analyst Ken Herbert said, "CUB reported a strong 2Q13, with EPS of $1.02, as compared to our estimate of $0.66, but continued to experience difficulties in defense. While CUB should see similar challenges within defense in F2H13, we believe the company will be able to more than offset defense with growth in Transportation and with potential upside from recent acquisitions and restructuring."
The firm is reducing F2H13 estimates, but increasing FY13 estimate to $3.19. The firm also increased FY14 EPS estimate to $3.60,
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $42.89 yesterday, with a 52 week range of $40.61-$52.53.
Analyst Ken Herbert said, "CUB reported a strong 2Q13, with EPS of $1.02, as compared to our estimate of $0.66, but continued to experience difficulties in defense. While CUB should see similar challenges within defense in F2H13, we believe the company will be able to more than offset defense with growth in Transportation and with potential upside from recent acquisitions and restructuring."
The firm is reducing F2H13 estimates, but increasing FY13 estimate to $3.19. The firm also increased FY14 EPS estimate to $3.60,
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $42.89 yesterday, with a 52 week range of $40.61-$52.53.