Markets & Finance

UBS Upgrades Electronics For Imaging

UBS Financial upgrades the digital imaging company Electronics For Imaging (EFII) to buy from neutral.

Analyst Benjamin Reitzes says his upgrade is based on his view that the company's core controller business is set to improve with new products from several OEM's into 2006. He also views the VUtek acquisition (announced June 2) favorably since it is very attractive.

He says his checks indicate that the company could be gaining a share within Xerox, which accounts for about 20% of its controller sales. He believes a potential share shift could contribute $10 million to $20 million annually in server revenues over time.

Reitzes raises his 57 cents 2005 earnings per share estimate to 59 cents, his 84 cents 2006 earnings per share estimate to 88 cents, and his $22 target to $25.

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