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Fly News Breaks for January 21, 2016
FARO
Jan 21, 2016 | 07:24 EDT
Stephens analyst Ben Hearnsberger upgraded FARO Technologies to Overweight from Equal Weight. The analyst still thinks estimates will need to reset, but also believe this is mostly known, he tells investors in his upgrade note. The hiring of a new CEO and continued roll-out of new products are potential catalysts and the company's historically positive cash generation and near-tangible book value price are backstops for the stock, said Hearnsberger, who lowered his price target on FARO shares to $26 from $32.
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