UPDATE: Lazard Capital Lowers PT on Omnivision Technologies to $37

Lazard Capital is out with its report today on Omnivision Technologies OVTI, lowering its PT to $37 from $44. In its report, Lazard Capital writes, "The stock is trading at 5x 2012E EPS (ex cash), an attractive multiple given annual rev growth of 13%. Our $37 PT is based on 13x 2013E EPS." Lazard Capital maintains Buy on OVTI. At the time of posting, shares of OVTI were trading pre-market at $18.08, down 27.16% from Thursday's close.