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Morgan Stanley Sticks to Its Hold Rating for Cognex (CGNX)

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Morgan Stanley analyst Joshua Pokrzywinski maintained a Hold rating on Cognex (CGNXResearch Report) today and set a price target of $68.00. The company’s shares closed last Thursday at $61.01, close to its 52-week low of $59.73.

According to TipRanks.com, Pokrzywinski is a 4-star analyst with an average return of 5.5% and a 51.3% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Emerson Electric Company, and Honeywell International.

The word on The Street in general, suggests a Hold analyst consensus rating for Cognex with a $76.89 average price target, implying a 13.9% upside from current levels. In a report issued on April 21, Robert W. Baird also maintained a Hold rating on the stock with a $72.00 price target.

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Based on Cognex’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $244 million and net profit of $53.54 million. In comparison, last year the company earned revenue of $224 million and had a net profit of $69.35 million.

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Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The company was founded by Robert J. Shillman, William Silver, and Marilyn Matz in 1981 and is headquartered in Natick, MA.

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