BofA/Merrill Lynch Downgrades Gigamon (GIMO) to Underperform
- Top 10 News for 2/23 - 2/27: Revised GDP Slips, but Beats, in Q4; Two Pharma Giants to Merge; Net Neutrality Passes
- UPDATE: Revised Q4 GDP Growth Slows to 2.2% as Private Inventory Investment Estimate Trimmed
- Former AIG (AIG) CEO Benmosche Dies at Age 70
- UPDATE: FDIC Takes Over Doral Bank (DRL) in Puerto Rico
- Ericsson (ERIC) Files Complaints Against Apple (AAPL) Over Patent Infringement
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: UBS Downgrades Bank of America (BAC) to Neutral on Risk of Qualitative Failure
- Infoblox (BLOX) PT Raised to $28 at Piper Jaffray on 'Very Impressive' Q2 Results
- Splunk (SPLK) PT Lifted to $90 at Cantor Fitzgerald on Solid Q4 and Momentum
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!