Frequency Electronics price target raised to $46 from $43 at Craig-Hallum

Craig-Hallum analyst Daniel Hibshman raised the firm’s price target on Frequency Electronics (FEIM) to $46 from $43 and keeps a Buy rating on the shares. On a headline revenue beat and EPS miss, shares look to be trading slightly lower in the after-market. The firm sees that as a gift and would strongly encourage investors to take a look at what’s going on under the covers. The quarter was a strong top line performance, and more importantly a strong backlog performance, but did miss on EPS, Craig-Hallum notes.