Markets & Finance

Thomas Weisel Ups Intevac to Outperform

Thomas Weisel upgraded Intevac (IVAC) to outperform from peer perform, explaining that the low-light imaging technology company stands to benefit from strong demand for its products.

Analyst Kevin Hunt cited factors such as the accelerated ramp up of its digital imaging business in 2006 to 2008. Hunt sees Intevac having $1.12 2006 earnings per share (EPS) on $173 million revenue. He ups his $1.59 2007 EPS estimate on $224 million revenue to $1.64 (excluding stock option expense) on $248 million revenue. He thinks the shares are fairly valued in the $21 to $29 range.

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