Needham & Company Downgrades Aeroflex Holding (ARX) to Hold; What Happens When the Government Becomes Lethargic?

Needham & Company downgraded Aeroflex Holding (NYSE: ARX) from Buy to Hold.

Needham analyst says, "We are lowering our estimates to reflect reduced government (ATS) sales, and believe ARX will lose its premium valuation in the near-term. We would look for a return to normal government procurement patterns or for valuation to become more compelling before turning more positive on shares."

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

Shares of Aeroflex Holding closed at $18.69 yesterday.

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