UPDATE: JPMorgan Downgrades Diebold (DBD) to Underweight

JPMorgan analyst Paul J. Chung downgraded Diebold (NYSE: DBD) from Neutral to Underweight.

The analyst comments "2Q earnings came in better than feared though somewhat low quality in our view given the elevated restructuring charges that were taken in the quarter. Management kept EBITDA and FCF guidance unchanged despite lowered revenue guidance on material FX headwinds. We see elevated risks to hitting guidance, in another heavily back end loaded year. Valuation levels are also at a premium to NCR, despite lower operating profit margins, more complex capital structure issues and limited FCF. No change to estimates. Price target remains withdrawn."

For an analyst ratings summary and ratings history on Diebold click here. For more ratings news on Diebold click here.

Shares of Diebold closed at $4.46 yesterday.

You May Also Be Interested In

• Jefferies Downgrades Sunway Healthcare Holdings (SUNMED:MK) to Hold
• Jefferies Downgrades IDP Education (IEL:AU) (IDPUF) to Hold
• Seaport Global Securities Upgrades Analog Devices (ADI) to Buy, 'appears to be entering the sweet part of the cycle'