Eagle Test Systems "buy," target price raised

04/26/07 - Banc of America

NEW YORK, April 26 (newratings.com) - Analyst Mark Fitzgearld of Banc of America Securities maintains his "buy" rating on Eagle Test Systems (EGLT), while raising his estimates for the company. The target price has been raised from $20 to $23.

In a research note published yesterday, the analyst mentions that the company has reported healthy March quarter results, reflecting new customer gains. Eagle Test Systems has issued its guidance for the June quarter marginally short of the consensus. The company’s long-term outlook remains unchanged, Banc of America Securities adds. The EPS estimate for 2007 has been raised from $0.61 to $0.64.