Pike Electric "outperform"

11/07/07 - Robert W. Baird

NEW YORK, November 7 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Pike Electric Corporation (PEC). The target price is set to $26.

In a research note published this morning, the analysts mention that the company has reported its F1Q08 EPS short of the estimates and the consensus due to the unpredictable storm restoration segment. Pike Electric has suspended its guidance related to Storm Restoration revenues due to the division's uneven performance, the analysts say. The company's gross margin performance was substantially better than it has been in previous similar quarters, Robert W Baird adds.