Goldman Sachs Cuts Target On Financial Engines (FNGN)

Goldman Sachs lowered its price target on Financial Engines (NASDAQ: FNGN) from $25 to $23 and reiterated its Neutral rating following in-line Q3 results.

The firm adjusted 2011/12/13 ests to $0.39/$0.47/$0.64 from $0.37/$0.51/.$0.72 on the margin outlook which is higher in 2011 and lower in 2012.

Godman noted that the 28% 2012 EBITDA base margin outlook includes two
specific headwinds. First it assumes no market appreciation, versus our view of 8%. Next $2mn in costs associated with new headquarter. If those are are excluded, margin increases c.100bps year-over-year, the firm notes.

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

Shares of Financial Engines closed at $22.34 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Prabhudas Lilladher Starts Aditya Birla Sun Life AMC (ABSLAMC:IN) at Buy (1)
• Alphabet (GOOGL) PT Raised to $400 at Piper Sandler
• Mirum Pharmaceuticals (MIRM) PT Raised to $144 at Citizens