Nomura Securities Starts Altera (ALTR) at Reduce; Currently Looks Overvalued
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Price: $32.50 -1.31%
Rating Summary:
8 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
8 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade ALTR Now!
Nomura Securities initiates coverage on Altera (NASDAQ: ALTR) with a Reduce. PT $33.00.
Analyst, Romit Shah, said, "Trading at a 35% premium to its comp group, Altera is one of the most expensive names in our coverage. It seems investors liked Altera’s strong business model and outperformance last cycle; they appear to be looking for another sharp snap-back in equipment spending."
"We forecast EPS (with options) of $1.65 in CY12E and $2.05 in CY13E, versus consensus of $1.83 and $2.24, respectively."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $36.75 yesterday, with a 52 week range of $30.39-$49.59.
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Analyst, Romit Shah, said, "Trading at a 35% premium to its comp group, Altera is one of the most expensive names in our coverage. It seems investors liked Altera’s strong business model and outperformance last cycle; they appear to be looking for another sharp snap-back in equipment spending."
"We forecast EPS (with options) of $1.65 in CY12E and $2.05 in CY13E, versus consensus of $1.83 and $2.24, respectively."
For an analyst ratings summary and ratings history on Altera click here. For more ratings news on Altera click here.
Shares of Altera closed at $36.75 yesterday, with a 52 week range of $30.39-$49.59.
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