UPDATE: Morgan Keegan Raises PT on American Science & Engineering to $69

In a published research note, Morgan Keegan reiterated its Perform rating on American Science & Engineering (NASDAQ: ASEI) as results beat estimates on revenue and GAAP EPS. Morgan Keegan also updated its price target for AMEI from $63 to $69 per share.

Morgan Keegan commented: “AS&E reported $54.8 million in revenue and $0.74 in GAAP EPS, above our estimates of $48.5 million and $0.50 and consensus of $0.58. Bookings were down 19.5% y/y and up 1,026.1% sequentially, while backlog was down 17.0% y/y and up 22.4% sequentially.”

ASEI traded at $72.35 at market close on Monday.