Cantor Fitzgerald Downgrades Radisys (RSYS) to Hold
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Cantor Fitzgerald downgrades Radisys (Nasdaq: RSYS) from Buy to Hold. Price target lowered from $8.50 to $7.
Cantor analyst says, "We have conversed with approximately 20 industry contacts over the course of the past two weeks and these discussions lead us to believe that market conditions deteriorated further during the current quarter for most companies that we actively research. While we are comfortable that Radisys will meet its 1Q:09 revenue guidance of $73.0 million to $79.0 million, we have decided to lower our 1Q:09 sales estimate to the lower end of this range and let this change flow through our model. Our estimates for FY:09 and FY:10 are lower as a result of this action. The recurrent themes from our recent conversations were of unexpected project slippage, reduction and cancellation from a broad swath of technology vendors across most geographies. The tenor of these conversations suggests that a more conservative stance regarding our outlook for Radisys is warranted."
RadiSys Corporation (RadiSys) is a provider of advanced embedded solutions for the communications networking and commercial systems markets.
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