Brean Murray Downgrades Blue Coat Systems (BCSI) to Sell
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Brean Murray downgrades Blue Coat Systems Inc. (Nasdaq: BCSI) from Buy to Sell, with a fair value estimate of $11 per share - which represents 34% downside from current levels.
The firm said, "Given our expectation that the U.S. enterprise market is unlikely to see significant growth this year, coupled with our lack of visibility into combined company financials, we are downgrading our rating to Sell until we can see evidence of integration synergies."
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Comments
BCSI downgrade
"Our" lack of visibility?? A bit of DD would give you some insight... or is that too much work. Also - BCSI does sell into an expanding overseas market.
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BCSI Downgrade
Hal B. Meyer on Jun 12, 2008 11:50 AMConsistent earnings growth since 2004 and now the downgrade? You wonder where these analysts get their training. Why didn't they downgrade it when the price was over $50... at least that may have been for a technical reason. I'd follow these guys!