Syntax-Brillian (fka BRLCQ)

[kakalak]

BRLC new Target Price is 100% over current price.

Syntax-Brillian "buy," target price reduced

Thursday, September 13, 2007 9:02:42 AM ET
Brean Murray, Carret & Co

NEW YORK, September 13 (newratings.com) - Analyst Michael H V Tieu of Brean Murray maintains his "buy" rating on Syntax-Brillian Corporation (ticker: BRLC), while reducing his estimates for the company. The target price has been reduced from $15 to $8.

In a research note published this morning, the analyst mentions that the company has reported robust F4Q07 operating results, with gross margins and operating income ahead of expectations. The analyst says, however, that the GAAP EPS was short of the estimates on account of a onetime tax reversal. Syntax-Brillian has reduced its revenue guidance for 2H07 due to the difficult credit environment faced by Asian suppliers. The EPS estimate for FY08 has been reduced from $1.07 to $0.54.