Market Overview

Flir Systems Has Growth Opportunities In Data, Drones, Autonomous Vehicles, Says William Blair

Flir Systems Has Growth Opportunities In Data, Drones, Autonomous Vehicles, Says William Blair

Thermal imaging company FLIR Systems, Inc. (NASDAQ: FLIR), which reported better-than-expected second-quarter earnings July 25, caught an upgrade Monday from William Blair.  

The Analyst

William Blair's Louie DiPalma upgraded Flir Systems from Market Perform to Outperform.

The Thesis

DiPalma said he sees growth opportunities for Flir Systems. 

In the near-term, sales should be positively affected by a strong economy and enhanced product capability, the analyst said.

The Point Grey acquisition turned Flir into a data analytics company, which should make its sensors more attractive to customers, DiPalma said. In the long run, thermal sensors will become common in autonomous vehicles, and Flir's sensors are superior to those made by major original equipment manufacturers, he said. 

Nano drones have a significant opportunity to penetrate the Big Army and come into widespread use in the next five years, as the Department Of Defense is increasing its spending on drones by around 30 percent annually, DiPalma said. 

The analyst said he expects Flir's multiple to expand on its growth opportunities as Wall Street starts to value it as a technology company. The major risk is the long-term nature of its catalysts, as it may take years for the positive scenario to play out, DiPalma said. 

The Price Action

Flir Systems shares were trading up by 2.16 percent to $61.47 at the time of publication Monday. 

Related Articles:

50 Biggest Movers From Yesterday

Benzinga's Top Upgrades, Downgrades For May 7, 2018

Photo by Lcamtuf/Wikimedia. 

Latest Ratings for FLIR

Jul 2020NeedhamMaintainsBuy
Jul 2020Canaccord GenuityInitiates Coverage OnBuy
May 2020Imperial CapitalMaintainsIn-Line

View More Analyst Ratings for FLIR
View the Latest Analyst Ratings


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