Insituform (INSU) Shares Plunge Midday as Janney Cuts to Neutral
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Price: $11.66 --0%
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Capital's Liam Burke downgraded shares of Insituform Technologies (NASDAQ: INSU) from Buy to Neutral in an intraday research note Monday. The firm's price target was reduced from $31.50 to $26.
The Janney analyst said "near-term concerns outweigh our positive long-term view of the company..."
The firm pointed out potential positives: plenty of room to grow outside the US, driving operating efficiencies which will effectively continue improvements in operating margins, a more stable pricing environment and improved performance from its earlier stage water rehab unit.
Burke's FY11 EPS estimate moves from $1.80 to $1.65. The Street is currently looking for FY11 EPS of $1.72.
For more ratings news on Insituform Technologies click here and for the rating history of Insituform Technologies click here.
The Janney analyst said "near-term concerns outweigh our positive long-term view of the company..."
The firm pointed out potential positives: plenty of room to grow outside the US, driving operating efficiencies which will effectively continue improvements in operating margins, a more stable pricing environment and improved performance from its earlier stage water rehab unit.
Burke's FY11 EPS estimate moves from $1.80 to $1.65. The Street is currently looking for FY11 EPS of $1.72.
For more ratings news on Insituform Technologies click here and for the rating history of Insituform Technologies click here.
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