Needham Releases a Buy Rating on Cubic (CUB)


Needham analyst James Ricchiuti assigned a Buy rating to Cubic (CUB) today and set a price target of $52.00. The company’s shares closed last Thursday at $45.71.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 14.2% and a 61.2% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cubic with a $56.00 average price target, which is a 24.9% upside from current levels. In a report issued on September 14, Canaccord Genuity also maintained a Buy rating on the stock with a $58.00 price target.

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The company has a one-year high of $75.20 and a one-year low of $30.86. Currently, Cubic has an average volume of 437.8K.

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Cubic Corp. is a technology provider of integrated solutions. The company designs, integrates and operates systems, products and services focused in the transportation, defense C4ISR and training markets. It operates through the following segments: Cubic Transportation Systems, Cubic Mission Solutions, and Cubic Global Defense Systems. The Cubic Transportation Systems segment designs, produces, installs, and services electronics revenue collection systems for mass transit projects, including railways and buses. The Cubic Mission Solutions segment provides C4ISR capabilities for defense, intelligence, security and commercial missions. The Cubic Global Defense Systems segment consists of customized military range instrumentation; laser based training systems, and virtual simulation systems. The company was founded by Walter J. Zable in 1949 and headquartered in San Diego, CA.

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