UPDATE: Sterne Agee Upgrades FLIR Systems to Buy on Long-Term Outlook
Sterne Agee raised its rating on FLIR Systems (NASDAQ: FLIR) from Neutral to Buy with a $30 price target.
Sterne Agee said, "We are upgrading FLIR to Buy from Neutral, reflecting our long-term view that FLIR is now heading back towards a path to grow. In the near term, short-term pressures in both commercial and government end markets provide an attractive entry point for long-term investors. Closing of the Lorex Technology (LOR-CA $1.28, NR) deal today should help offset some top-line softness in 2013."
FLIR Systems closed at $21.56 on Wednesday.
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Tags: Sterne Agee