Park Electrochemical (PKE): What The Street Is Missing - Needham
Get Alerts PKE Hot Sheet
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Needham & Company analyst, Sean Hannan, reiterated his Buy rating on shares of Park Electrochemical (NYSE: PKE) and raised the price target to $22 on the belief that the company is approaching several catalysts. The analyst believes that the Street is missing natural demand is starting to pick up and the Meteorwave line is about to experience substantial momentum over
the next year as a result of PKE's modified effort to work more directly with OEMs.
Additionally, the inventory burn-off at GE is nearing its conclusion reducing the pressure on Aero which is 28% of the top line. Overall opportunities in Aero through GE, Textron and other unnamed customers (1 which could be 1.5-2x size of the current GE business) still offer the opportunity for up to a $100M+ run rate/yr by 2020/21.
The $22 PT is up from $18.
For an analyst ratings summary and ratings history on Park Electrochemical click here. For more ratings news on Park Electrochemical click here.
Shares of Park Electrochemical closed at $17.66 yesterday.
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