Piper Jaffray Reiterates Overweight Rating On Rofin-Sinar

According to Piper Jaffray, Rofin-Sinar RSTI Overweight rating is reiterated. Piper Jaffray said that Rofin's 3QFY print made the grade despite the dismal tape yesterday. “Our price target goes to $43 now based on 17x CY12E EPS of 2.52. The lowered multiple (from 18x) reflects a more modest growth outlook given emerging macro headwinds.” Rofin-Sinar closed yesterday at $28.53.