CalAmp climbs on FBR initiation

Shares of CalAmp (CAMP +3.6%) climb after FBR Capital initiates the stock at Outperform with a PT of $29.

Analyst Scott Thompson's bull thesis centers on the idea that consensus figures underestimate the EPS impact of CalAmp's initiatives. The stock's valuation has "room to expand given peers' current valuation levels and growth profiles ... as the stock is likely to outperform many of the handset and data networking names over the next several quarters," the analyst believes.

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