UPDATE: Benchmark Company Reiterates Buy Rating, Raises PT on Analogic Corporation

In a report published Friday, Benchmark Company reiterated its Buy rating on Analogic Corporation

, and raised its price target from $82.00 to $90.00. Benchmark noted, “Analogic reported a strong Q4 beat on both the top and bottom line. Revenue and non-GAAP EPS were $151 million (up 12% y/y) and $1.32 (up 60% y/y) vs. consensus estimates of $141 million and $0.71 and our Q4 estimates of $146 million and $0.84. Total non-GAAP operating margin was 15.4% in the quarter, well above our 10.2% estimate. Growth was driven by Ultrasound (up 20% y/y) and Security (up 48% y/y), with Medical Imaging flat in the quarter; additionally, ALOG reported double-digit non-GAAP operating margins in all three segments, with Ultrasound and Medical Imaging at 13% and Security at 27%.” Analogic Corporation closed on Thursday at $69.33.