Deutsche Bank Downgrades NII Holdings (NIHD) to Hold
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Price: $6.58 -6%
Rating Summary:
6 Buy, 5 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
6 Buy, 5 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade NIHD Now!
Deutsche Bank downgraded NII Holdings (NASDAQ: NIHD) from Buy to Hold with a $37 price target.
"NIHD’s 2Q results were well below our forecasts, with nearly all operations underperforming our expectations. While we had expected adoption of 3G technology to be painful, it appears much worse than we expected. Additionally, the guidance for the rest of the year is well below our worst-case scenario. We thus downgrade NII to Hold. While we are more sanguine on longer-term prospects given expected cash flow growth and margin expansion, we anticipate near-term volatility, and thus are moving to a neutral stance despite the upside implied by our 12-month target."
For an analyst ratings summary and ratings history on NII Holdings click here. For more ratings news on NII Holdings click here.
Shares of NII Holdings closed at $8.08 yesterday, with a 52 week range of $6.56-$39.49.
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"NIHD’s 2Q results were well below our forecasts, with nearly all operations underperforming our expectations. While we had expected adoption of 3G technology to be painful, it appears much worse than we expected. Additionally, the guidance for the rest of the year is well below our worst-case scenario. We thus downgrade NII to Hold. While we are more sanguine on longer-term prospects given expected cash flow growth and margin expansion, we anticipate near-term volatility, and thus are moving to a neutral stance despite the upside implied by our 12-month target."
For an analyst ratings summary and ratings history on NII Holdings click here. For more ratings news on NII Holdings click here.
Shares of NII Holdings closed at $8.08 yesterday, with a 52 week range of $6.56-$39.49.
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