Deutsche Bank Downgrades WMS Industries (WMS) to Sell After 23% Rally

Deutsche Bank downgraded WMS Industries (NYSE: WMS) from Hold to Sell with a price target of $13.00 (from $15.00).

The firm comments, "After bottoming on August 7, post a meaningful F4Q12 miss and weaker implied guidance versus Consensus forecasts, WMS shares have rallied more than 23% on broader market strength (SPX +4%) and little company specific news. Given what we see as stretched valuation (~17.3x our F2013 EPS), and several company specific issues, we are downgrading WMS to Sell from Hold."

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

Shares of WMS Industries closed at $17.13 yesterday.

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