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Keefe, Bruyette & Woods Downgrades GFI Group (GFIG) to Market Perform; Upside Surprise Catalysts Diminish

August 1, 2011 9:33 AM EDT
Get Alerts GFIG Hot Sheet
Price: $6.16 --0%

Rating Summary:
    1 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Keefe, Bruyette & Woods downgraded GFI Group (NASDAQ: GFIG) from Outperform to Market Perform with a price target of $5.00.

KBW analyst says, "We downgrade GFIG with 13% upside to our new 12-month price target of $5, 13.5X our lower 2012 EPS estimate of $0.37. While the stock trades relatively inexpensively at EV-to-NTM EBITDA of ~4.5X, we don't see a catalyst for upside revenue or EPS surprise over the next two to four quarters nor do we model significant cost reductions."

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

Shares of GFI Group closed at $4.62 yesterday.


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