Wedbush Cuts Estimates & PT on NETGEAR (NTGR); Results and Guidance Below Expectations
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Price: $32.84 +0.74%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NTGR Now!
Wedbush maintains a 'Neutral' on NETGEAR (NASDAQ: NTGR) price target of $33.00 (from $37.00).
Analyst, Rohit Chopra, said, "We maintain our rating on NETGEAR due to concerns about EMEA and strength of the back to school and holiday season given the overall macro. Q3 results were within guide, but below our and consensus expectations. Economic headwinds appeared to be the primary driver of the weaker-than-expected results. Guidance is far below our and consensus expectations as the combined effect of the economy and a slowdown by service provider spending ahead of the Olympics impact business momentum. The company is indicating that multiple new products, a rebound in commercial and a robust back-to-school quarter will partially offset some of the weakness in SP."
Lowers FY12 EPS estimate from $2.87 to $2.65 and FY13 from $3.05 to $2.64.
For an analyst ratings summary and ratings history on NETGEAR click here. For more ratings news on NETGEAR click here.
Shares of NETGEAR closed at $35.00 yesterday, with a 52 week range of $23.45-$43.44.
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Analyst, Rohit Chopra, said, "We maintain our rating on NETGEAR due to concerns about EMEA and strength of the back to school and holiday season given the overall macro. Q3 results were within guide, but below our and consensus expectations. Economic headwinds appeared to be the primary driver of the weaker-than-expected results. Guidance is far below our and consensus expectations as the combined effect of the economy and a slowdown by service provider spending ahead of the Olympics impact business momentum. The company is indicating that multiple new products, a rebound in commercial and a robust back-to-school quarter will partially offset some of the weakness in SP."
Lowers FY12 EPS estimate from $2.87 to $2.65 and FY13 from $3.05 to $2.64.
For an analyst ratings summary and ratings history on NETGEAR click here. For more ratings news on NETGEAR click here.
Shares of NETGEAR closed at $35.00 yesterday, with a 52 week range of $23.45-$43.44.
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