Mizuho Securities Downgrades AAC Holdings (AAC) to Neutral
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Mizuho Securities downgraded AAC Holdings (NYSE: AAC) from Outperform to Neutral with a price target of $14.00 (from $26.00) following weak guidance.
Analyst Ann Hynes commented, "We are downgrading AAC to Neutral from Buy given this morning's guidance reduction which, at that midpoint, is a ~10% reduction in adjusted EBITDA and ~16% reduction in adjusted EPS. We no longer think this stock supports a premium valuation multiple so our new price target is 11x EV/EBITDA versus 13x previously."
Shares of AAC Holdings closed at $7.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Credit Suisse Downgrades Murphy Oil Corp. (MUR) to Underperform
- RBC Capital Downgrades Concordia Healthcare (CXRX) to Underperform, $1 PT
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
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!