Piper Jaffray upgrades Cognex to Neutral

Piper Jaffray upgrades Cognex (CGNX -1.1%) to Neutral from Underweight and ratchets its PT to $58 from $34 after the company's upbeat analyst day.

Analyst Jagadish Iyer believes the company's logistics segment is in the midst of a multi-year growth trend as its machine vision product replaces laser line scanners. Iyer sees the company potentially topping the Street's 2014 estimates but remains concerned over Cognex's "frothy" valuation.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs