Lake Street Capital Markets initiated coverage on Planar Systems, Inc. (NASDAQ: PLNR) Tuesday with a Buy rating and $8.50 price target.
Analyst Jaeson Schmidt believed “Planar Systems has turned the corner, where the Digital Signage (D.S.) segment continues to ramp (up 36 percent y/y in FY14, 42 percent in FY13, and 11 percent in FY12), the Commercial & Industrial (C&I) business has stabilized (management expects it to be roughly flat in FY15), and favorable mix should help margins trend toward 30 percent (25.6 percent in FY4Q)."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Schmidt noted that “we think investors are still discounting that the Company has indeed turned the corner. We believe our estimates conservatively reflect revenue growth of 12 percent and 8 percent the next two fiscal years with corresponding EPS growth of 48 percent and 40 percent. Given these growth rates and rising margins, we think there remains room for the stock to see further multiple expansion.”
The $8.50 price target was based on approximately 15x the firms’s FY 2016 pro forma EPS estimate of $0.56.
Planar Systems recently traded at $7.32, down 0.8 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.