Jefferies Downgrades Sourcefire (FIRE) to Hold On More Level Risk/Reward
Tweet
Share
E-mailGet Alerts FIRE Hot Sheet
Price: $75.96 --0%
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 39
Rating Summary:
3 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 39
Join SI Premium – FREE
Jefferies downgraded Sourcefire (NASDAQ: FIRE) from Buy to Hold with a price target of $30, saying the current price presents a more level risk-reward.
The firm comments, "Commercial growth acceleration and material margin expansion are already factored into Street models which leaves less room for potential upside, in our view. Our rating change is not about the December quarter, which we believe will be strong based on healthy commercial sales and initial success with the Next-Generation Firewall product. Our change is about valuation and CY12 estimates—we do not think CY12 estimates will see upward revisions in the near term which may be required for the next move. As such, we will look for a more favorable entry point or greater conviction in upward estimate revisions to return to a more constructive view on the stock."
For an analyst ratings summary and ratings history on Sourcefire click here. For more ratings news on Sourcefire click here.
Shares of Sourcefire closed at $30.26 yesterday.
The firm comments, "Commercial growth acceleration and material margin expansion are already factored into Street models which leaves less room for potential upside, in our view. Our rating change is not about the December quarter, which we believe will be strong based on healthy commercial sales and initial success with the Next-Generation Firewall product. Our change is about valuation and CY12 estimates—we do not think CY12 estimates will see upward revisions in the near term which may be required for the next move. As such, we will look for a more favorable entry point or greater conviction in upward estimate revisions to return to a more constructive view on the stock."
For an analyst ratings summary and ratings history on Sourcefire click here. For more ratings news on Sourcefire click here.
Shares of Sourcefire closed at $30.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Downgrades Bank Mandiri (BMRI:IJ) (PPERF) to Sell, 'Liquidity and capital tightness'
- Jefferies Downgrades Dauch Corp (DCH:LN) to Hold
- JPMorgan Downgrades TotalEnergies (TTE:FP) (TTE) to Neutral
Create E-mail Alert Related Categories
DowngradesRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
