Apr 12th 2012 - Edison Investment Research today published a report on XP Power (XPP.L, LSE:XPP, LON:XPP) entitled "Q1 Order Improvement". In summary, the report says:
XP reported a 10% y-o-y decline in Q1 revenues, in line with our expectations. Stronger order intake in Q1 should support higher Q2 revenues, in line with our forecast for growing orders and revenues through the course of 2012. Consequently we maintain our forecasts. XP continues to deliver on its strategy of growing its in-house design and manufacturing and this will continue to drive margins over the forecast period. With much of the weaker trading environment factored into the share price, we view the stock as undervalued versus peers.
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