Baird Downgrades Xilinx (XLNX) to Neutral
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Baird downgraded Xilinx (NASDAQ: XLNX) from Outperform to Neutral and maintained a price target of $52.00 on valuation, weakening wireless infrastructure trends, and likely lack of upside to fiscal 2017 estimates.
Analyst Tristan Gerra commented, "Current strength in data centers should primarily benefit Intel's Altera business as Xilinx's current data center exposure remains minimal. Xilinx remains one of the highest-quality names within our coverage list, owing to its proprietary architecture/software, secular market share gains, and new market prospects including data centers."
Shares of Xilinx closed at $50.99 yesterday.
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