Lazard Capital Maintains Buy on Supertex (SUPX)

Lazard Capital is out with its report today on Supertex (NASDAQ: SUPX), maintaining Buy.

In a note to clients, Lazard Capital writes, "Despite the recent performance, we recommend SUPX as a stable investment among other high beta stocks. We like SUPX due to the following: 1) a buyback in place representing 19% of outstanding shares; 2) an attractive valuation of less than 10x forward earnings without the cash; 3) the LED BLU segment is bottoming; 4) the medical business should come back and benefit from a slew of new pulsers. While the company has underperformed we believe that at these levels the risk-reward is somewhat compelling with limited downside risk."

Lazard Capital maintains a $28 PT on SUPX.

Shares of SUPX closed Wednesday at $21.93.