Barclays Maintains an 'Equalweight' on Power-One (PWER); Italy, Inventory Issues Impact Q1 Outlook

Barclays maintains an 'Equalweight' on Power-One (NASDAQ: PWER), PT $8.

Barclays analyst says, "Yesterday post close, PWER updated Q1 revenue guidance to reflect the continuing market uncertainty in Italy and Germany. The company lowered revenue guidance to the range of $240-$245 million compared to previous guidance of $260-$290 million, our prior estimate of $290 million, and street estimate of $275 million."

"We are lowering our 2011 EPS estimate from $1.05 to $0.90, and Q2 revenue from $295 million to $263 million. Italian market outcome is the primary catalyst for shares. In a scenario where the Italian market turns out to be worse than expected, we see share price downside risk to $6-7 levels."

For more ratings news on Power-One click here and for the rating history of Power-One click here.

Shares of Power-One closed at $8.29 yesterday.

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