Methode Electronics, Inc. Reports Fiscal 2017 Second-Quarter Sales And Earnings

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FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q

December 9, 2016 6:59 AM EST

FBR Capital reiterated an Outperform rating on Methode Electronics (NYSE: MEI), and raised the price target to $50.00 (from $42.00), following the company's 2Q earnings report. MEI reported diluted EPS of $0.66 , and sales of $209 million. Consensus for EPS and sales were $0.55 and $209 million, respectively. Management reiterated its FY17 revenue target of $820 million$845 million, but noted that they expect to be nearer the low end. They raised EPS guidance to $2.30$2.45, from $2.20$2.35, given better productivity and... More