Credit Suisse Downgrades Multi Packaging Solutions (MPSX) to Neutral
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Credit Suisse downgraded Multi Packaging Solutions (NYSE: MPSX) from Outperform to Neutral with a price target of $15.30 (from $19.00).
Analyst Lars Kjellberg commented, "Fiscal 2016 was a disappointing year for MPSX burdened by unexpected customer losses and operational issues. Performance deteriorated through the year with the weakest quarter in FQ4 with EBITDA declining 9% and margins contracting 20bps, y-o-y. Customer losses will, in part, continue to weigh on results in 2017. Operational issues have mostly but not fully been resolved. MPSX points to several unusual events burdening 2016 performance. What concerns is the number of such events and poor visibility of no-repeat in 2017"
The firm lowered fiscal 2017 and 2018 EPS estimates by 15% and 16%, respectively.
Shares of Multi Packaging Solutions closed at $14.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
- Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
- Philip Morris Intl (PM) PT Raised to $101 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
Related EntitiesCredit Suisse
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!