Jefferies Starts Siliconware Precision Industries (SPIL) at Underperform

Jefferies initiates coverage on Siliconware Precision Industries (NASDAQ: SPIL) with a Underperform.

The firm comments, "We believe SPIL's operational turn-around is at an early stage and that its share price is running ahead of the fundamentals. We believe a turnaround will require a multi-year effort, including a prolonged period of capex investment that will negatively impact SPIL's free cashflow, margins and ROE."

For more ratings news on Siliconware Precision Industries click here and for the rating history of Siliconware Precision Industries click here.

Shares of Siliconware Precision Industries closed at $5.21 yesterday.

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