Canaccord Genuity Maintains a 'Hold' on Altera (ALTR); Cutting Price Target on Softening Demand

June 8, 2012 8:35 AM EDT
Get Alerts ALTR Hot Sheet
Price: $53.96 --0%

Rating Summary:
    6 Buy, 30 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity maintains a 'Hold' on Altera (NASDAQ: ALTR) price target of $35.00 (from $40.00).

Analyst, Bobby Burleson, said, "We lower our price target for ALTR and reiterate our rating as demand appears to be softening into the September quarter guide. Reiterated mid-quarter revenue view offers a mild near-term positive for the stock considering negative sentiment, while XLNX will likely continue to be seen as a share-gainer."

For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.

Shares of Altera closed at $33.01 yesterday.

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