DA Davidson Downgrades ACI Worldwide (ACIW); Solid Q2 and Disruptive SONE Bid Highlight Improving Sector; Wait for the Dust to Settle
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Price: $45.55 +0.46%
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ACIW Now!
DA Davidson downgraded ACI Worldwide (NASDAQ: ACIW) from Buy to Neutral with a price target of $42.00.
DA analyst says, "Let the dust settle - While we are clearly fans of ACIW and believe the sector is heating up, we can’t today justify another price target increase (we just raised our target July 8th). With less upside to our unchanged $42 target, a lot for investors to digest in the short term, and an aggressive acquisition timeline, we are taking our rating to NEUTRAL. We would like to let the dust settle before putting new money to work in ACIW."
"Combining ACIW and S1 Corp (Nasdaq: SONE) makes a formidable competitor - ACIW gains a payment product more suited to the middle market, with enhanced cash management functionality. That said, the price is rich and the move feels defensive to us. Alternatively, the combined SONE / Fundtech (Nasdaq: FNDT) would have become a more threatening competitor."
For more ratings news on ACI Worldwide click here and for the rating history of ACI Worldwide click here.
Shares of ACI Worldwide closed at $35.70 yesterday, with a 52 week range of $18.27-$36.35.
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DA analyst says, "Let the dust settle - While we are clearly fans of ACIW and believe the sector is heating up, we can’t today justify another price target increase (we just raised our target July 8th). With less upside to our unchanged $42 target, a lot for investors to digest in the short term, and an aggressive acquisition timeline, we are taking our rating to NEUTRAL. We would like to let the dust settle before putting new money to work in ACIW."
"Combining ACIW and S1 Corp (Nasdaq: SONE) makes a formidable competitor - ACIW gains a payment product more suited to the middle market, with enhanced cash management functionality. That said, the price is rich and the move feels defensive to us. Alternatively, the combined SONE / Fundtech (Nasdaq: FNDT) would have become a more threatening competitor."
For more ratings news on ACI Worldwide click here and for the rating history of ACI Worldwide click here.
Shares of ACI Worldwide closed at $35.70 yesterday, with a 52 week range of $18.27-$36.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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