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Goldman Sachs Maintains a 'Sell' on Lexmark (LXK); Falling Short of Our Own Below-Consensus Estimates

July 13, 2012 12:09 PM EDT Send to a Friend
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Price: $42.09 +1.37%

Rating Summary:
    0 Buy, 6 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 20
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Goldman Sachs maintains a 'Sell' on Lexmark International (NYSE: LXK) price target of $21.00 (from $24.00).

Analyst, Bill Shope, said, "We have been concerned that macro weakness would pressure Lexmark’s high-margin supplies sales, but it appears even our below-consensus estimates did not fully capture the headwinds on Lexmark’s installed base."

Shope lowers FY12 revenue estimate from $3.86B to $3.81B, FY13 from $3.69B to $3.59B and FY14 from $3.64B to $3.54B. FY12 EPS estimate was also cut from $3.90 to $3.76, FY13 from $4.04 to $3.52 and FY14 from $4.04 to $3.48.

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

Shares of Lexmark International closed at $24.31 yesterday.




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