Barclays Maintains an 'Equalweight' on Polycom (PLCM); Executing Against a Weak Macro
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Price: $12.47 --0%
Rating Summary:
2 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
2 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Barclays maintains an 'Equalweight' on Polycom (NASDAQ: PLCM) price target of $30.00.
Barclays analyst says, "F2Q results were in-line despite a tough macro: A resilient U.S. Federal and EMEA allowed PLCM to reach the high end of guidance, though likely below expectations. Our estimates rise modestly, primarily on the HP (NYSE: HPQ) video acquisition...Our estimates rise modestly on HP: Our 2012 EPS rises to $1.46 from $1.38 (post-split) as incremental HP revenues are partially offset by slightly lower gross margins. PLCM remains committed to reach its 20% operating margin target in 4Q. Our new $30 price target vs. prior $55 reflects a 2-for-1 stock split."
Kvaal Call: Polycom's strong execution on its growth story against a challenging macro backdrop appears well reflected in its multiple.
For more ratings news on Polycom click here and for the rating history of Polycom click here.
Shares of Polycom closed at $28.93 yesterday.
Barclays analyst says, "F2Q results were in-line despite a tough macro: A resilient U.S. Federal and EMEA allowed PLCM to reach the high end of guidance, though likely below expectations. Our estimates rise modestly, primarily on the HP (NYSE: HPQ) video acquisition...Our estimates rise modestly on HP: Our 2012 EPS rises to $1.46 from $1.38 (post-split) as incremental HP revenues are partially offset by slightly lower gross margins. PLCM remains committed to reach its 20% operating margin target in 4Q. Our new $30 price target vs. prior $55 reflects a 2-for-1 stock split."
Kvaal Call: Polycom's strong execution on its growth story against a challenging macro backdrop appears well reflected in its multiple.
For more ratings news on Polycom click here and for the rating history of Polycom click here.
Shares of Polycom closed at $28.93 yesterday.
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