Noble Financial Sticks to Their Buy Rating for Comtech Telecommunications (CMTL)

In a report released today, Joe Gomes from Noble Financial maintained a Buy rating on Comtech Telecommunications (CMTLResearch Report), with a price target of $30.00. The company’s shares closed last Thursday at $21.38.

According to TipRanks.com, Gomes is a 5-star analyst with an average return of 35.0% and a 66.5% success rate. Gomes covers the Services sector, focusing on stocks such as Information Services Group, Kelly Services, and DLH Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Comtech Telecommunications with a $30.00 average price target, implying a 36.1% upside from current levels. In a report issued on June 9, Northland Securities also assigned a Buy rating to the stock with a $28.00 price target.

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Based on Comtech Telecommunications’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $161 million and net profit of $4.21 million. In comparison, last year the company earned revenue of $162 million and had a net profit of $3.5 million.

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Comtech Telecommunications Corp. engages in the design, development, production, and market of products, systems, and services for advanced communications solutions. It operates through the Commercial Solutions and Government Solutions segment. The Commercial Solutions segment offers satellite communications, public safety systems, and enterprise application technologies for commercial customers and smaller government customers. The Government Solutions segment comprises mission-critical technologies and transmission technologies for large government end users, international customers, and domestic prime contractors. The company was founded in 1967 and is headquartered in Melville, NY.