UPDATE: Benchmark Downgrades Sybase (SY) to Hold
SY Hot Sheet
Rating Summary:0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Benchmark downgrades Sybase (NYSE: SY) from 'Buy' to 'Hold' saying that the stock "no longer trades on fundamentals" in reference to the pending acquisition of the company by SAP.
The firm notes, "Last night, in an unscheduled 'drive-by' earnings report... SY delivered a solid performance in the face of global macro uncertainty." Benchmark believes that companies that can bring new technology to the market will outperform "even in the face of a potentially volatile macro environment; we believe SY’s IQ non-relational database engine is just such a compelling technology, as is SY’s mobile application development/deployment product line."
The stock is hanging onto positive territory this morning, last trading around $64.87.
To see all the upgrades/downgrades on shares of SY, visit our Analyst Ratings page.
Sybase, Inc. provides enterprise and mobile software solutions for information management, development, and integration worldwide.
The firm notes, "Last night, in an unscheduled 'drive-by' earnings report... SY delivered a solid performance in the face of global macro uncertainty." Benchmark believes that companies that can bring new technology to the market will outperform "even in the face of a potentially volatile macro environment; we believe SY’s IQ non-relational database engine is just such a compelling technology, as is SY’s mobile application development/deployment product line."
The stock is hanging onto positive territory this morning, last trading around $64.87.
To see all the upgrades/downgrades on shares of SY, visit our Analyst Ratings page.
Sybase, Inc. provides enterprise and mobile software solutions for information management, development, and integration worldwide.
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