UPDATE: Argus Says Emulex (ELX) Fully Valued, Downgrades to Hold

July 5, 2013 8:19 AM EDT
Get Alerts ELX Hot Sheet
Price: $7.99 --0%

Rating Summary:
    6 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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(Updated - July 5, 2013 9:18 AM EDT)

Argus downgraded Emulex (NYSE: ELX) from Buy to Hold. On Wednesday Emulex stock jumped on rumors it hired Goldman Sachs to seek buys. In the view of analyst Jim Kelleher, shares are now fully valued, and he thinks the higher share price could complicate the sales process. Additionally, integrating Emulex could be challenging, said Kelleher.

For an analyst ratings summary and ratings history on Emulex (NYSE: ELX) click here. For more ratings news on Emulex click here.

Shares of Emulex closed at $7.62 yesterday.

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