Jefferies Downgrades Alcatel-Lucent (ALU) Two Notches to Underperform, Says EVDO Play is Finite
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Price: $3.46 --0%
Rating Summary:
14 Buy, 6 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 6 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies downgraded Alcatel-Lucent (NYSE: ALU) from Buy to Underperform with a price target of $2.35 (down form $5.00).
The firm comments, "We are downgrading Alcatel-Lucent shares as: 1) we expect the stream of very profitable EVDO revenue will wind down later next year; 2) the sale of the Genesys business has now played out as a catalyst; and 3) we see potential risk in the 2H capex spending environment – particularly in North America."
For more ratings news on Alcatel-Lucent click here and for the rating history of Alcatel-Lucent click here.
Shares of Alcatel-Lucent closed at $2.94 yesterday.
The firm comments, "We are downgrading Alcatel-Lucent shares as: 1) we expect the stream of very profitable EVDO revenue will wind down later next year; 2) the sale of the Genesys business has now played out as a catalyst; and 3) we see potential risk in the 2H capex spending environment – particularly in North America."
For more ratings news on Alcatel-Lucent click here and for the rating history of Alcatel-Lucent click here.
Shares of Alcatel-Lucent closed at $2.94 yesterday.
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