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Fly News Breaks for October 16, 2018
ZBRA
Oct 16, 2018 | 09:10 EDT
Northcoast analyst Keith Housum said share of Zebra Technologies have been weak on concerns related to the latest round of tariffs on Chinese manufactured goods. Housin expects the impact in Q4 2018 to be 6c and FY19 to be 60c, amounting to 5% of his FY19 estimate of $11.76. The analyst expects management to either announce price increases as of January 1, 2019 and/or move production of data scanners to Mexico from China, as it already produces some scanners in Mexico. Housin said Zebra has been diversifying manufacturing and estimates only 2-3% of the overall business is tied to Chinese manufacturer's today. The analyst reiterates his Buy rating and $200 price target on Zebra shares and views the recent sell-off as overdone.
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