SLI - BancBoston Robertson Stephens Initiates Coverage of SLI With a Buy Rating
SAN FRANCISCO, July 8 /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 initiated coverage of SLI, Inc. (NYSE: SLI - news), with a Buy
rating. SLI is a leader in the global lighting industry, providing customers with a full range
of lighting products and services.
''We are initiating coverage of SLI with a Buy rating,'' said Mach. ''Over the last several
years, through 23 strategic acquisitions, SLI has emerged as a new leader in the $75
billion global lighting market. SLI is the only 'pure-play' company participating in the
broadly defined lighting industry.
''Going forward, we expect SLI to continue to implement its proven acquisition and
internal growth strategy,'' said Mach. ''Over the next three-to-five years, we believe SLI
will grow its earnings-per-share at a compound-annual rate of 25 percent or better.
''We expect that as SLI moves along its well-defined-growth path, its share price will
advance toward our 12-month price target of $43, more than 50 percent above its
current share price,'' said Mach. |
