BofA/Merrill Lynch Downgrades Gigamon (GIMO) to Underperform
- Wall St. rebounds; Nasdaq breaks seven-day losing run
- Baker Hughes (BHI), Halliburton (HAL) Confirm Merger Termination
- Apollo Education Group (APOL) Takeover Offer from Consortium of Investors Raised to $10/Share
- Global stocks rise, bond prices fall on investor optimism
- After-Hours Stock Movers 05/02: (FN) (BECN) (THC) (YELP) Higher; (ONDK) (CYH) (BETR) (SRPT) Lower (more...)
BofA/Merrill Lynch downgraded Gigamon (NYSE: GIMO) from Neutral to Underperform with a price target of $11.00 (from $23.00) following Q2 negative pre-announcement.
Analyst Tal Liani notes this is the second negative preannouncement in a row for Gigamon. With guidance for gross margins and operating expenses unchanged, this suggests lower operating and net margins overall.
The firm cut FY14/15 EPS estimates to $0.09/$0.23 down from $0.33/$0.57.
Shares of Gigamon closed at $18.18 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Jaffray Downgrades Altisource Portfolio Solutions (ASPS) to Underweight
- Jefferies Cut Price Target on Seagate Technology (STX) to $25 Following a Weak 3Q
- UBS Raises Price Target on Cabot Oil & Gas (COG) to $28 Following 1Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades, Hot Downgrades
Related EntitiesMerrill Lynch, Bank of America
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!