BofA/Merrill Lynch Downgrades Gigamon (GIMO) to Underperform
- Nuance Communications (NUAN) Tops Q4 EPS by 6c; Issues Light Q1 Outlook
- Palo Alto Networks (PANW) Tops Q1 EPS by 3c
- Loral Space (LORL): Ontario Teachers, PSP Nearing $7B Deal for Telesat - Bloomberg
- Violin Memory (VMEM) Tops Q3 EPS by 1c
- RenaissanceRe (RNR) to Acquire Platinum Underwriters (PTP) in $1.9B Deal
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
- BofA/Merrill Lynch Downgrades Wesco Aircraft Holdings (WAIR) Two-Notches to Underperform
- Coach (COH) Price Target Raised to $37 at Topeka Capital; Analyst Maintains Hold Rating
- BofA/Merrill Lynch Downgrades Aruba Networks (ARUN) to Underperform
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!