UPDATE: CK Cooper Initiates IEC Electronics at Buy on Strategic Positioning
CK Cooper initiated coverage on IEC Electronics (NYSE: IEC) with a Buy rating and a $9 price target.
CK Cooper commented, "The last four acquisitions completed by the Company have helped attain several manufacturing capabilities that has enabled the Company to offer highly specialized ruggedized and high-rel components. These components/products are used across several aerospace/military platforms, medical equipment, locomotive engines, satellite towers etc. and comply with stringent military requirements. Since the products are used in critical equipment it is critical for them to operate efficiently to meet military standards. This not only creates high barriers of entry but also limits the chances of outsourcing."
IEC Electronics closed at $6.68 on Wednesday.
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