UPDATE - Oppenheimer Downgraded Insituform Technologies (INSU) to Underperform; Headwinds Through 2012; Cutting Estimates
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Price: $11.66 --0%
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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UPDATE - Oppenheimer downgraded Insituform Technologies (NASDAQ: INSU) from Market Perform to Underperform.
Oppenheimer analyst said, "We expect challenges surrounding municipal spending deferrals and negative mix at the legacy sewer rehabilitation business to remain a headwind to margins and earnings growth through 2012. Meanwhile, poor weather and flooding could also take a toll on earnings near term. As a result, we view guidance and current expectations as aggressive. While shares have relatively underperformed of late, we see additional downside risk and would continue to avoid the shares with a lack of sustainable catalyst for the time being and risks to execution heightened."
"Lowering our '11E to $1.00 from $1.15 and compares to management's $1.30-1.40 guidance and $1.25 consensus. Our '12E is now $1.35 from $1.75 vs. $1.86 consensus."
To see more ratings changes on INSU, Click Here
Oppenheimer analyst said, "We expect challenges surrounding municipal spending deferrals and negative mix at the legacy sewer rehabilitation business to remain a headwind to margins and earnings growth through 2012. Meanwhile, poor weather and flooding could also take a toll on earnings near term. As a result, we view guidance and current expectations as aggressive. While shares have relatively underperformed of late, we see additional downside risk and would continue to avoid the shares with a lack of sustainable catalyst for the time being and risks to execution heightened."
"Lowering our '11E to $1.00 from $1.15 and compares to management's $1.30-1.40 guidance and $1.25 consensus. Our '12E is now $1.35 from $1.75 vs. $1.86 consensus."
To see more ratings changes on INSU, Click Here
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