Wedbush Upgrades Exide Technologies (XIDE) to Neutral; Valuation Call
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Price: $30.39 +0.03%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Exide Technologies (NASDAQ: XIDE) from Underperform to Neutral, price target lowered from $7 to $6.00.
Wedbush analyst says, "Shares of Exide are trading below book value of $5.11 and we see limited downside to current levels. While our estimates are well below consensus and guidance, we expect Exide to report a profitable FY12, and believe the company unlikely to report losses in FY13 without significant deterioration below our more cautious view...We are cautious on Exide for the outlook of input costs rising faster than market trends and pressures from Johnson Control's (NYSE: JCI) integration with battery recycling."
For more ratings news on Exide Technologies click here and for the rating history of Exide Technologies click here.
Shares of Exide Technologies closed at $4.75 yesterday.
Wedbush analyst says, "Shares of Exide are trading below book value of $5.11 and we see limited downside to current levels. While our estimates are well below consensus and guidance, we expect Exide to report a profitable FY12, and believe the company unlikely to report losses in FY13 without significant deterioration below our more cautious view...We are cautious on Exide for the outlook of input costs rising faster than market trends and pressures from Johnson Control's (NYSE: JCI) integration with battery recycling."
For more ratings news on Exide Technologies click here and for the rating history of Exide Technologies click here.
Shares of Exide Technologies closed at $4.75 yesterday.
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