Fly News Breaks for February 28, 2020
Feb 28, 2020 | 08:55 EDT
Needham analyst Jason Ricchiuti lowered the firm's price target on Flir Systems to $50 from $56 but keeps a Buy rating on the shares. The analyst cites the company's Q4 earnings miss and disappointing FY20 guidance as well as its decision to eliminate the consumer-focused OTS product line and sell its under-performing Raymarine non-thermal electronics business in reducing his estimates. Ricchiuti contends however that investors' "legitimate timing questions" about Flir's growth opportunities are priced into the stock at current levels.
News For FLIR From the Last 2 Days