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UPDATE: Stifel Nicolaus Reduces PT to $16 on Newport Corporation on Macro Pressure

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Stifel Nicolaus reiterated its Buy rating on Newport Corporation (NASDAQ: NEWP) but lowered its price target from $18 to $16 as the company posted a lower guidance for the next quarter.

Stifel Nicolaus noted, "4Q12 guidance calls for revenue, pro forma operating margin, and pro forma net income to be flat on continued macro uncertainty in most end markets, with management noting the lack of a near-term catalyst and no expectation for a seasonal budget flush. Although lowering our revenue growth expectations on continued macro uncertainty, we believe investors will positively view results as Newport continues to deliver on the bottom line despite elusive revenue growth. We maintain our Buy rating on shares expecting eventual revenue improvement and channel synergies from acquisitions will result in meaningful operating leverage long term."

Newport Corporation closed at $10.82 on Wednesday.

Latest Ratings for NEWP

Apr 2016CJS SecuritiesDowngradesMarket OutperformMarket Perform
Feb 2016NeedhamDowngradesBuyHold
Feb 2016B. Riley FBRDowngradesBuyNeutral

View More Analyst Ratings for NEWP
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings


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