Friday December 21, 12:22 PM
Filtronic "buy," target price raised
LONDON, December 21 (newratings.com) - Analyst Nick James of Panmure Gordon reiterates his "buy" rating on Filtronic Plc (ticker: FTC-GBX). The target price has been raised from 209p to 227p.
In a research note published this morning, the analyst
mentions that the company has agreed to sell its Compound Semiconductors division to RFMD for £12.5 million in an all-cash deal, which is expected to be closed on February 29, 2008. The sale price for Compound Semiconductors is substantially higher than was expected, the analyst says. Filtronic (LSE: FTC.L - news) 's interims in January are likely to exhibit progress towards settling the company's pension liability and returning substantial cash to shareholders, Panmure Gordon adds.
© 2007 New Ratings
Click here for more articles from NewRatings.com
|
|
|
Send Article by Email
