Cognex (CGNX) PT Raised to $80 at Canaccord Genuity Following 1Q
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Price: $54.60 -5.94%
Rating Summary:
21 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 48
Rating Summary:
21 Buy, 13 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 48
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Canaccord Genuity raised its price target on Cognex (NASDAQ: CGNX) to $80.00 (from $65.00) while maintaining a Hold rating. CGNX reported 1Q earnings results of $134.9M in revenues and $0.51 in EPS. Results exceeded the consensus estimates of $124.7M and $0.28. Revenues were ahead of the company's guided range of $122M to $125M.
Management provided Q2/17 revenue expectations of $165M to $170M. Revenue guidance at the midpoint compares to the consensus of $172M.
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