UPDATE: Barclays Downgrades Lexmark International (LXK) to Underweight; Challenges Mounting for Printing Sector
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Price: $30.95 --0%
Rating Summary:
0 Buy, 4 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 20
Rating Summary:
0 Buy, 4 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 20
Trade LXK Now!
(Updated - July 12, 2012 3:11 PM EDT)
Barclays downgraded Lexmark International (NYSE: LXK) from Equalweight to Underweight with a price target of $24.00 (from $29.00).
Analyst, Ben A. Reitzes, said, "Our research continues to point toward increased pressure on printing due to secular and macroeconomic headwinds. More specifically, we believe the structural issues that we highlighted in the inkjet market like the rise of mobility may be spreading to the business market a bit."
FY12 EPS estimate cut from $4.30 to $4.16 and revenues from $3.97B to $3.90B. FY13 EPS cut from $4.27 to $4.08.
For an analyst ratings summary and ratings history on Lexmark International click here. For more ratings news on Lexmark International click here.
Shares of Lexmark International closed at $26.29 yesterday, with a 52 week range of $24.50-$38.34.
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Barclays downgraded Lexmark International (NYSE: LXK) from Equalweight to Underweight with a price target of $24.00 (from $29.00).
Analyst, Ben A. Reitzes, said, "Our research continues to point toward increased pressure on printing due to secular and macroeconomic headwinds. More specifically, we believe the structural issues that we highlighted in the inkjet market like the rise of mobility may be spreading to the business market a bit."
FY12 EPS estimate cut from $4.30 to $4.16 and revenues from $3.97B to $3.90B. FY13 EPS cut from $4.27 to $4.08.
For an analyst ratings summary and ratings history on Lexmark International click here. For more ratings news on Lexmark International click here.
Shares of Lexmark International closed at $26.29 yesterday, with a 52 week range of $24.50-$38.34.
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