Thursday, June 17, 2010

Anadigics Stock Price Jumps as Trading Opens

According to the Boston Globe today, shares of Anadigics jumped ahead of regular trading Thursday after a Stifel Nicolaus analyst upgraded the stock, saying the company's earnings are likely to beat expectations in the second half of the year. Stifel Nicolaus analyst Patrick Newton raised the company to "Buy" from "Hold" and gave it a price target of $5.50.

Newton said he expects the company to be taking a bigger share of the market as the year goes on. He said that should help the company's earnings outstrip Wall Street forecasts in the near term. Further out, the company's quarterly revenue of about $80 million to $90 million should pick up to $160 million to $200 million, Newton said. Anadigics shares rose 25 cents, or 6.2 percent, to $4.25 in premarket trading.

Find out what Anadigics it doing right in Microwave Journal interview with Mario Rivas, CEO of Anadigics:

No comments:

Post a Comment