Benchmark downgraded Cubic Corporation CUB from Buy to Hold and lowered the price target to $46.00.
Benchmark noted, "Although we believe Cubic remains well-positioned to grow over the long-term, we view FY13 as a transitional year with lower growth in Transportation and deceleration in Defense. We maintain our FY13 sales estimates of $1.37 billion down 1%y/y (-5% organic growth). Our model assumes $37.5 million and 7.5 million respectively from the acquisitions of NEK and NexBus. We lower our FY13 EPS to $2.54 from $3.14, reflecting margin pressure in both Transportation and Defense, and slight dilution from the acquisitions."
Cubic Corporation closed at $48.40 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in