Goldman Sachs Revises Solera Holdings Estimates; Price Target Raised

Goldman Sachs is raising its Solera Holdings, Inc.

estimates on higher revenues and margins driven by updated FX assumptions, following the recent weakening of the USD, most notably against the Euro (+7% last 3 months; 45% of SLH's revenue). “Our FY11/FY12/FY13 EPS are now $1.55/$1.85/$2.13 from $1.47/$1.74/$1.99 prior; excluding stock comp and intangibles, our adjusted EPS are now $2.25/$2.49/$2.73,” Goldman Sachs writes. “Reflecting our revised estimates, we are raising our 12-month price target to $46 (from $43), suggesting 5% upside.” Goldman Sachs says that it remains positive on SLH's global positioning in the auto insurance claims industry and high margin leverage. Solera Holdings currently trades for $44.14.