Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Wachovia Upgrades Tektronix to 'Buy'


Wachovia upgraded Tektronix (TEK) to buy from hold.

Analyst Stephen Koffler says second quarter earnings per share were above the consensus estimate of nine cents, amid strength in sales of wireless tests and logic analyzers. Koffler says Tektronix screens very well on his list of criteria for a company's long-term success: Tektronix is a vital industry supplier; it has a strong balance sheet; and a strong cash position -- he thinks this criteria creates a scenario for market share gains.

Koffler notes key market share gain opportunities are in wireless tests in Japan and China. He says he thinks sequential growth can resume again in the second half of fiscal 2003 as communications companies gear up their new product develoment for a sales ramp in the second half of calendar 2003. Koffler sees 40 cents earnings per share for fiscal 2003 (May) and 85 cents in fiscal 2004. He has a $21 target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus