Deutsche Bank Downgrades Audience, Inc. (ADNC) to Sell; No Longer the Apple of Our Eye
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Price: $14.77 -0.2%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ADNC Now!
Deutsche Bank downgraded Audience, Inc. (NASDAQ: ADNC) to Sell with a price target of $5.00 (from $22.00).
Deutsche analyst said, "Audience announced that they would not be included in the iPhone 5 and likely not be included in future Apple (Nasdaq: AAPL) devices. This news comes as a surprise to us, with the likely launch of the iPhone 5 only a week away and every diligence call with Apple an indication of Audience’s inclusion in the next generation handset. Unfortunately we were wrong. As a result of the loss of this key customer, we are downgrading the stock."
For an analyst ratings summary and ratings history on Audience, Inc. click here. For more ratings news on Audience, Inc. click here.
Shares of Audience, Inc. closed at $18.86 yesterday, with a 52 week range of $15.15-$23.41.
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Deutsche analyst said, "Audience announced that they would not be included in the iPhone 5 and likely not be included in future Apple (Nasdaq: AAPL) devices. This news comes as a surprise to us, with the likely launch of the iPhone 5 only a week away and every diligence call with Apple an indication of Audience’s inclusion in the next generation handset. Unfortunately we were wrong. As a result of the loss of this key customer, we are downgrading the stock."
For an analyst ratings summary and ratings history on Audience, Inc. click here. For more ratings news on Audience, Inc. click here.
Shares of Audience, Inc. closed at $18.86 yesterday, with a 52 week range of $15.15-$23.41.
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