UPDATE - Canaccord Genuity Downgrades GeoEye (GEOY) to Hold; 2012 Outlook Appears Challenging
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Price: $35.83 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Canaccord Genuity downgrades GeoEye (Nasdaq: GEOY) from Buy to Hold. Price target to $33 from $45.25
Canaccord analyst, Jeff Rath, said, "While the renewal of the EnhancedView award is positive, the outlook across all businesses appears uncertain and growth expectations are tempered...Despite weak production/services revenue, margins were strong. However, operating leverage in 2012 appears muted...F2011 guidance lowered. GEOY expects 5% y/y organic revenue growth in 2012, which we believe is weak given lowered F2011 guidance."
To see more ratings changes on GEOY, Click Here
Canaccord analyst, Jeff Rath, said, "While the renewal of the EnhancedView award is positive, the outlook across all businesses appears uncertain and growth expectations are tempered...Despite weak production/services revenue, margins were strong. However, operating leverage in 2012 appears muted...F2011 guidance lowered. GEOY expects 5% y/y organic revenue growth in 2012, which we believe is weak given lowered F2011 guidance."
To see more ratings changes on GEOY, Click Here
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