New York, September 26 (FinanceEnquiry.com) – Analysts at Piper Jaffray downgrade their rating on the shares of Cognex Corporation (NASDAQ: CGNX) from NEUTRAL to UNDERWEIGHT. The 12-month target price has been reduced from $30 to $27.
In a research note published on September 25, the analysts mention that due to the three months of consecutive fall in the US and China PMI indices, ever more cautious stance is carried for revenue and earnings trajectory of Cognex Corporation. Furthermore, the impact of the overall slowing in common manufacturing in China and the prevailing doubt in both the EU and the US seem not reflected completely by the stock of Cognex Corporation.
In addition to this, post the CAPEX cuts underway at present, semi revenues (approximately 10 percent of sales) probably stay flat y/y for 2013 at roughly $31 million. Also, all geographies remain soft and due to this, growth of Factory Automation seems moderating ahead in 2H12 and next year.
Total revenue growth of 10 percent y/y (previously 15 percent) for 2013 is observed with inspection of Web and Surface staying uneven, the analysts add further.
New York, June 19 (FinanceEnquiry.com) – Sony Xperia M is an upcoming sensation that is expected to enter mobile industry by the third quarter of this year. It has an optional dual SIM and has been...Gold Plunges Since the Dollar Soars - June 18, 2013
New York, June 18 (FinanceEnquiry.com) – Gold fell on the very first day of the week in view of the fact that the dollar soared, with investors keeping an enthusiastic watch on US Federal Reserve meeting of...Investors Wait for Fed Meeting; Asian Stocks Improve - June 17, 2013
As...HTC J: Giving Reasons to Fly with Joy - June 14, 2013
New York, June 14 (FinanceEnquiry.com) – In August 2012, HTC J was launched with the motto to be at par with hopes of the users, waiting keenly to opt a phone that has been loaded with numerous top class features....Jobless Applications Descend - June 13, 2013
New York, June 13 (FinanceEnquiry.com) – Approaching bottommost stage in five years in an indication of flexibility for the US labor market, the number of Americans registering fresh applications for...Pantech Vega R3 IM-A850L: Grand and Glamorous - June 13, 2013