Goldman Sachs Downgrades VeriSign, Inc. (VRSN) to Sell
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Goldman Sachs downgrades VeriSign, Inc. (Nasdaq: VRSN) to Sell and lowers their price target form $25 to $22, citing legal overhangs and ASP declines.
The firm said the legal overhang relating to the CFIT antitrust suit could call into question VeriSign's ability to raise prices in 2012. The firm also cited deterioration in the company's SSL cert business due to lower-priced competitors and said margin expansion expectations may not be met.
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