Goldman Sachs Downgrades Emulex (ELX) to Sell on Risk/Reward

December 3, 2012 6:45 AM EST
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Price: $7.99 --0%

Rating Summary:
    6 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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Goldman Sachs downgraded Emulex (NYSE: ELX) from Neutral to Sell with a price target of $6.00 (from $7.00).

The firm said risk-reward has worsened over the past year. "Emulex is making the best of a tough market environment, but near-term investment needs, headwinds from macro, and litigation-related risks could cap shareholder value in the near-term," the analyst said.

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

Shares of Emulex closed at $7.35 yesterday.

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