Markets & Finance

CE Unterberg Upgrades Electronics for Imaging

CE Unterberg upgraded its rating on Electronics for Imaging (EFII) to buy from market perform.

Analyst James McIlree says he thinks the company's EPS guidance is low, and consensus estimates are low; he believes, with multiple new products hitting the market, both estimates and the stock's p-e multiple will rise. He notes the company in in 2005 has unveiled 12 new engines for the printer/copier market, 50% more than the number unveiled in 2004. In 2006, EFII is expected to unveil even more new engines than in 2005. McIlree thinks new products will lead to better results down the road.

Another potential catalyst for boosting current EPS estimates could come from acquisitions, in his view. The analyst sees 90 cents 2005 EPS, rising to $1.37 in 2006. He has $28-$30 price target.

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