Venture: trades at 12.8x consensus FY10E PE. Stock is well-covered. Street gives mostly Buy calls, with targets ranging from $8.88-11.80.
Technically, stock appears to be trading in a broad range. Support at 8.50, resistance at 9.25. Difficult to predict direction now, as stock is currently hovering around its (virtually flat) 200day MA.
Venture's recent 2Q10 results were within expectations, with improved earnings quality (ie higher margins) shining through. Mgt positive on outlook, based on indications from its customers. Should see further improvement in 2H10, which is traditionally a stronger period.
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