Davenport Downgrades Owens & Minor (OMI) to Neutral; Poor Q3 Results
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Davenport downgrades Owens & Minor (NYSE: OMI) from Buy to Neutral.
Davenport analyst says, "Owens and Minor reported 3Q earnings yesterday after the market close that were light of expectations; and held an investor call/update this morning that did not satisfy analysts resulting in significant price pressure to the shares that initially sold off by approximately $7. We conclude that issues currently being experienced by OMI will not dissipate in the near term, causing us to measurably cut our EPS forecasts, that leads us to move from a Buy to a Neutral rating on the shares. Given the hit the common shares have taken today, we are hopeful that the stock does rebound modestly in the near term, but believe that beyond this potential uptick appreciation potential in the near term is limited."
To see more analyst ratings on OMI Click Here.
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