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UPDATE: Bank Of America Reiterates On FEI Company On Solid Q2/Weak 2H14 Guidance

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D.A. Davidson Reiterates Buy, Lowers Price Target On FEI Company As Positive Long-Term View Is Intact
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In a report published Thursday, Bank of America analyst Derik de Bruin reiterated a Buy rating on FEI Company (NASDAQ: FEIC), but lowered the price target from $100.00 to $96.00.

In the report, Bank of America noted, “FEIC reported total revenues of $237mn (+6.5% y/y, +5.3% organic, -0.2% F/X, +1.4% acquisition), above our est. of $236mn (+5.9% y/y; +4.7% organic), Street$235mn. GAAP gross margin was 46.4% (-160bps y/y), below our 47.0% est. on timing and mix-related issues. Non-GAAP EPS of $0.70 were 3c ahead of our est. and 5c ahead of Street's. Overall, Q2 results were in-line with guidance, as +22% organic Industry Group growth helped offset a -9% decline in the Science Group due to Q1 Material Science order delays, but with Science bookings up +14% y/y.”

FEI Company closed on Wednesday at $87.10.

Latest Ratings for FEIC

Feb 2015Stifel NicolausMaintainsBuy
Jul 2014DA DavidsonUpgradesNeutralBuy
Jul 2014Noble FinancialUpgradesSellHold

View More Analyst Ratings for FEIC
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Posted-In: Bank of America Derik de BruinAnalyst Color Price Target Analyst Ratings


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