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UPDATE: Jefferies Cuts PT to $17 on M/A-COM Technology Solutions Holdings on Lower Guidance

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Drexel Hamilton Initiates M/A-COM Technology At Buy

Jefferies reiterated its Buy rating on M/A-COM Technology Solutions Holdings (NASDAQ: MTSI) but reduced its price target from $21 to $17.

Jefferies commented, "MTSI beat SepQ EPS by $0.02 and guided DecQ revs 150bps below consensus at the mid-point. We cut our CY13 EPS by $0.06 and price target by $4, but remain buyers given: 1) better revenue performance relative to competitors, 2) robust new product pipeline of highermargin products should translate to higher growth and gross margin expansion of 400 bps through EOCY13.

M/A-COM Technology Solutions Holdings closed at $10.75 on Tuesday.

Latest Ratings for MTSI

DateFirmActionFromTo
Apr 2015JP MorganMaintainsOverweight
Apr 2015BarclaysMaintainsOverweight
Apr 2015Drexel HamiltonInitiates Coverage onBuy

View More Analyst Ratings for MTSI
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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