J.P. Morgan Reports Partial Offsets On National Instruments

According to J.P. Morgan, National Instruments NATI has partial offsets. J.P. Morgan said that Overweight-rated NI is set to report its 1Q11 (March) results Thursday, April 28 after the market close. “We expect the company to meet or beat our March estimates. NI's model stands to decouple from near-term headwinds to the global manufacturing PMI driven by the Japanese natural disasters, but guidance for June may reflect some conservatism. We expect shares of NI to trade sideways until greater clarity on magnitude and duration of the macro shock is determined. New product momentum and sturdy T&M market trends stand to sustain above market growth for NI in 2011.” National Instruments closed yesterday at $31.66.