BancBoston Robertson Stephens Reiterates Buy Rating on SLI
SAN FRANCISCO, Aug. 12 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior industrial growth analyst Michael R. Mach today reiterated his Buy rating on SLI, Inc. (NYSE: SLI - news). SLI is a leader in the global lighting industry, providing customers with a full range of lighting products and services.
''We are reiterating our Buy rating on SLI following the company's announcement of solid-second-quarter results,'' said Mach. ''The company reported earnings-per-share of $0.39, 50 percent above the prior year's $0.26 result, $0.02 better than our estimate and $0.01 above Street consensus. This was the 16th consecutive quarter that SLI has grown its sales and net income at double-digit rates.
''Based on the strong quarter, we have raised our 1999 earnings-per-share estimate from $1.70 to $1.72 and have increased confidence in our 2000 forecast,'' said Mach. ''As SLI continues to implement its well-defined growth strategy, we expect its stock price will advance toward our 12-month price target of $43.''
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SOURCE: BancBoston Robertson Stephens |
