Morgan Stanley Sees Long-Term Strategy in Place for SMART Technologies

In a report published Friday, Morgan Stanley analyst Katy L. Huberty reiterated an Equal-Weight rating on SMART Technologies SMT. In the report, Morgan Stanley noted, “F4Q14 non-GAAP revenue beat our expectations as the market for interactive whiteboards declined slower than expected, while the touch component business, which the company is winding down, contributed 7% of revenue during the quarter. Cash opex came in lower. ASP saw Y/Y increase on the back of higher SMART Room System mix, but gross margin declined driven by interactive flat panels.” SMART Technologies closed on Thursday at $4.25.