Brooks Automation Inc. (BRKS) PT Raised to $22 at Needham & Company

Needham & Company raised its price target on Brooks Automation Inc. (NASDAQ: BRKS) to $22.00 (from $20.00) while maintaining a Buy rating. Revenue of $160MM matched consensus estimates while NG EPS of $0.25 beat the Street's $0.20, driven by lower than expected OPEX.

Analyst Edwin Mok commented, "BRKS reported F1Q17 (Dec) earnings and provided guidance above consensus, as strength in the SemiCap space coupled with continuing growth in Life Science are supporting robust business levels. While the strengthening in the SemiCap space is well known, we believe BRKS has significantly improved its position in the space that should support the business to continue to outgrow the industry. In Life Science, we believe the solid bookings with an increased number of multiple large deals confirms that BRKS's strategy to become a comprehensive solution provider is starting to work, which should support more consistent growth ahead. We believe BRKS is executing on its profitable growth strategy, and see the stock pushing higher. Reiterate our Buy and raise our PT to $22 (from $20)."

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