Markets & Finance

First Albany Ups Multi-Fineline Electronix to Strong Buy


From Standard & Poor's Equity Research

First Albany upgraded Multi-Fineline Electronix (MFLX) to strong buy from neutral.

Analyst Hugh Mai says that despite his concerns about the company's acquisition of MFS Technology Ltd., he believes its competitive advantages and robust growth opportunities are being given away essentially for free. He notes that the company's share price has been driven lower lately by "overblown" investor concerns about slowing shipments of RAZR phones. He says investors "mistakenly assume" the company's fortune is closely tied to the RAZR model. He maintains $2.24 fiscal year 2006 (ending September) earnings per share (EPS) and $2.51 fiscal year 2007 estimates.


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