KeyBanc Starts Mercury Computer (MRCY) at Buy; Essentially a Pure-Play

KeyBanc initiates coverage on Mercury Computer (NASDAQ: MRCY) with a Buy. PT $25.

KeyBanc analyst says, "Since dramatically reorganizing and refocusing its operations (restructuring efforts began in FY07) MRCY has shed its dysfunctional mini-conglomerate skin and has emerged as one of, if not the, premier embedded computing player in the defense electronics marketplace. The Company is essentially a pure-play on the C4ISR marketplace, which in our estimation, remains one of the few bright spots in the U.S. Defense budget, and has become a go-to provider for advanced signal processing and multi-computing solutions targeted specifically to a range of intelligence, surveillance, reconnaissance, missile defense, and electronic warfare applications."

For more ratings news on Mercury Computer click here and for the rating history of Mercury Computer click here.

Shares of Mercury Computer closed at $18.36 yesterday.

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