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Fly News Breaks for August 20, 2018
CGNX
Aug 20, 2018 | 17:53 EDT
Morgan Stanley analyst Joshua Pokrzywinski initiated Cognex with an Equal Weight rating and a price target of $57. The analyst is positive on the company's benefits from the underlying trend towards OLED vs. LCD supporting its consumer electronics growth, and also cites the "re-acceleration coming from the new phone launches that don't appear to be accumulating new machine vision systems". The analyst further attributes his neutral stance to preference for waiting for the company "to get through this quarter's tough comp and imply sustainable growth into next year".
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