CK Cooper upgraded Identive Group INVE from Hold to Buy and announced a $2.00 price target.
CK Cooper said, "INVE reported 4Q12 revenue and EPS of $36.59MM & $0.00 vs. our estimates of $36.59MM & ($0.04), respectively. … The restructuring efforts initiated by the Company in 2Q12 paid off as OpEx decreased significantly (37%) on a sequential basis. … INVE's improved operational performance, growth in NFC and RFID transponder demand, recent order announcements and addition of new customers imply positive valuation multiples to the stock from current levels. Hence, we upgrade the stock from HOLD to BUY with a price target of $2.00."
Identive Group closed at $1.46 on Thursday.
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