Deutsche Bank Downgrades Ixia (XXIA) to Hold on Near-term Outlook

Deutsche Bank downgraded Ixia (NASDAQ: XXIA) from Buy to Hold. PT lowered from $20 to $12.

Deutsche analyst says, "Ixia negatively pre-announced after the close. Management lowered their Q2 guidance, calling for revenues of $67m to $69m (prior $78m - $82m) and $0.07 to $0.08 in pro forma EPS (vs $0.14 - $0.17). Management cited order deferral from major equipment vendors (ex-Cisco) and weakness in Asia Pacific, among other issues. We believe it may take several quarters for order trends to stabilize, meriting caution. Consequently, we are lowering our rating to Hold, and lowering our estimates and Price Target

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

Shares of Ixia closed at $13.01 yesterday.

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