BofA/Merrill Lynch Downgrades Gigamon (GIMO) to Underperform
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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.
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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
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