BofA/Merrill Lynch Downgrades Gigamon (GIMO) to Underperform
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
- UPDATE: Imperial Capital Upgrades Peabody Energy (BTU) to In-Line
- Visa (V) Price Target Lifted to $300 at JPMorgan Ahead of Q1 Print
- Deutsche Bank Downgrades Retail Properties of America (RPAI) to Hold
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!