Deutsche Bank Upgrades Corp. Executive Board (EXBD) to Hold
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Deutsche Bank upgrades Corp. Executive Board (Nasdaq: EXBD) from Sell to Hold. Price target increased from $18 to $22.
Deutsche analyst says, "Due to significantly lower costs than expected, we are upgrading EXBD to a Hold. Implied 4Q guidance suggests continued sequential declines in revs, despite a $1m to $2m rev benefit from acqs. Our 4QE EPS goes from $0.20 to $0.25, while 1Q10 stays at $0.23, and '10E goes from $0.92 to $1.08. We raise our PT to $22 due to our increased EPS estimates but remain relatively cautious on EXBD as the trajectory of any future revenue growth remains uncertain."
To see more analyst ratings on EXBD Click Here.
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