Canaccord Genuity Reiterates a 'Hold' on Altera (ALTR); Sees Bottom in Q1

Canaccord Genuity reiterates a 'Hold' on Altera (NASDAQ: ALTR) price target raised from $33 to $37.

Analyst, Bobby Burleson, said, "We reiterate our rating on shares of ALTR following the company’s upside results (versus lowered guidance) and soft outlook. We believe valuation is rich while a lack of margin leverage should limit EPS upside during the recovery. Management noted an improvement in bookings and industrial demand (positive for the group), although communications infrastructure has yet to rebound."

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 $40.12 yesterday, with a 52 week range of $30.39-$49.59.

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