Gabelli Downgrades Diebold (DBD) to Hold following Q3; Risks Ahead

October 26, 2012 10:15 AM EDT
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Price: $25.70 +2.19%

Rating Summary:
    6 Buy, 3 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Gabelli downgraded Diebold (NYSE: DBD) from Buy to Hold with a price target of $47.00 (from $54.00) due to operational and end-market risks ahead.

The firm lowered 2013 and ’14 EPS estimates to $2.40 and $2.80, from $2.85 and $3.35 respectively.

"Diebold faced several headwinds in the quarter including lower mix due to higher National account business; project delays in Brazil; the ongoing FCPA investigation and the new Brazil tax assessment; and forecasting issues in North American operations impacting profitability," the analyst comments.

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

Shares of Diebold closed at $30.80 yesterday.

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