J.P. Morgan Comments on Strategy at National Instruments

J.P. Morgan has published a report on National Instruments NATI covering long term strategy at the company. In the report, J.P. Morgan wrote, "NI hinted at raising its long-term operating margin target of 18%, but elected to defer, due to the tenuous macro environment. The new product pipeline remains robust as NI introduced LabVIEW 2011 and several hardware platform extensions that should further expand the company's footprint into markets formerly dominated by more traditional T&M hardware designs." J.P. Morgan rated National Instruments an Overweight with a price target of $36.50. National Instruments closed Tuesday at $24.43.