- "We are upgrading shares of CGNX to BUY from Hold ahead of what we expect to be a resumption of large orders in 2016," writes Canaccord's Bobby Burleson. His target has been hiked by $9 to $42.
- Burleson: "While another negative estimate revision could come for Q1 (we are modeling negative seasonality based on China in contrast with consensus for Q/Q growth), we believe large orders should lead to subsequent positive revisions in Q2 as logistics and consumer electronics projects resume following delays in 2015. Valuation looks attractive on historical basis..."
- The industrial machine vision hardware maker sold off in early November on account of the soft Q4 guidance (blamed on weak industrial demand in various markets) provided with a Q3 EPS beat. In addition to Cognex, Canaccord has upgraded 3D measurement/imaging hardware maker FARO Technologies.