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UPDATE: DA Davidson Reduces PT to $18 on Electro Scientific Industries on Lower Guidance

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DA Davidson reiterated its Buy rating on Electro Scientific Industries (NASDAQ: ESIO) but lowered its price target from $22 to $18.

DA Davidson noted, "ESI is guiding F3Q (December) revenue of ~$40 million and proforma EPS of $(0.05)-$0.00, below consensus expectations of $64 million and $0.12, respectively. The significant revenue dip is driven by continued weakness in the core markets combined with the lower levels of micromachining business. Unfortunately, ESI's business will likely remain extremely lumpy on a quarterly basis until either the customer base meaningfully expands beyond Apple (AAPL - $609.54) or the other businesses recover."

Electro Scientific Industries closed at $12.44 on Thursday.

Latest Ratings for ESIO

Aug 2016NeedhamDowngradesBuyHold
Feb 2016NeedhamUpgradesHoldBuy
May 2014Imperial CapitalMaintainsBuy

View More Analyst Ratings for ESIO
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Posted-In: DA DavidsonAnalyst Color Price Target Intraday Update Analyst Ratings


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