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Needham & Company Starts MTS Systems (MTSC) at Buy

July 14, 2014 6:12 AM EDT
Get Alerts MTSC Hot Sheet
Price: $58.49 --0%

Rating Summary:
    5 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 4
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Needham & Company initiates coverage on MTS Systems (NASDAQ: MTSC) with a Buy rating and a price target of $80.00.

Analyst James Ricchiuti said, "We are initiating coverage of MTS Systems with a Buy rating and $80 target price. MTS supplies highly engineered equipment to companies that enable them to test how products, structures, components and materials will perform in a real-world environment. We expect growth in the F2H and F15 to accelerate as MTS benefits from an expanding service business and pickup in its core test and sensor businesses. We believe our top-line assumptions for F15 are reasonable, particularly given mgmt’s five-year target of 12% annual growth. MTSC shares trade at a discount to its peers and we believe shares can move higher over the next 12 months as mgmt executes on its growth strategy."

For an analyst ratings summary and ratings history on MTS Systems click here. For more ratings news on MTS Systems click here.

Shares of MTS Systems closed at $66.39 yesterday.



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