Brean Murray Cuts Lexmark (LXK) to Hold; Stepping to Neutral as Headwinds Flush Through

Brean Murray Carret & Co. downgraded Lexmark International (NYSE: LXK) from Buy to Hold.

Brean analyst says, "We'd look to again become constructive on shares as the headwinds abate. While we've held a more favorable view of LXK's 'normalized' earnings potential that the street (and believe likely wil again once the dust settles), we also believe it's likely that 1) Street EPS comes down within the ballpark of our new estimates and 2) until both revenue and margins sustainably stabilize, LXK will likely garner just 7-8x multiple, likely capping upside until these forces work through."

For more ratings news on Lexmark International click here and for the rating history of Lexmark International click here.

Shares of Lexmark International closed at $32.76 yesterday.

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