Stifel Nicolaus Still Gives TriQuint A Buy (TQNT)
March 19, 2010 9:29 AM
Stifel Nicolaus released a report after attending TriQuint's (NASDAQ: TQNT) analyst day in New York City. The event included: updated guidance, affirmation of the firm's long-term operating model, network momentum, and continued wireless strength.
March quarter revenue guidance rose to $175 million compared to prior range of $170 to $175 million. EPS now expected to approximate $0.11 compared to prior expectation of $0.08-$0.10
Stifel Nicolaus said, “FY10 revenue estimate increases to $802.2 million from $793.4 million with EPS increasing to $0.62 from $0.57. Our FY11 revenue estimate increases to $895.0 million from $891.6 million with EPS increasing to $0.74 from $0.72.”
Stifel analysts were "impressed with TQNT's analyst day, the depth of management, and the firm's roadmap, providing us with comfort that both long-term and short-term growth driver are in place to drive top-line growth and push the firm toward its long-term operating model. The firm maintained their Buy rating and $9 target price, representing 12.2x our new FY11 estimate of $0.74."
