Wunderlich Securities Reiterates Buy and PT of $4 on TechPrecision Corporation
Wunderlich Securities reiterated its Buy rating on TechPrecision Corporation (OTC: TPCS). At the same time, Wunderlich left its price target unchanged at $4 in spite of the company's worse than expected quarterly earnings results.
In a research report published today, Wunderlich states, "We reiterate our Buy recommendation and $4 price target on shares of TechPrecision Corp. (TPCS). The company reported revenue and EPS below our expectations for fiscal 4Q11, but the outlook is better than we expected, particularly with regard to margins which are projected to be better than we expected. Largely as the result of that, we are raising our EPS estimates."
On Wednesday, TechPrecision added 0.56% to close the day at $1.80.
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