UPDATE - Barclays Downgraded Sensata Technologies (ST) to Equalweight; Moving to Sidelines Until Visibility Improves
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Price: $42.83 +2.15%
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Barclays downgraded Sensata Technologies (NYSE: ST) from Overweight to Equalweight, price target from $39 to $33.
Barclays analyst said, "We are moving to the sidelines on ST stock until visibility improves and content growth story returns to the foreground. The company's reduction of 4Q guidance last night marks the second quarterly "miss" in a row. This time the negative surprise is coming from the autos-tied Sensors business - key to the momentum story. Weakness in Europe was the main driver of the miss, and the reduced demand is unlikely to unwind through '12. While we still like ST's long-term prospects, the next 6 months could see continued inventory destock and European auto SAAR forecast cuts. There will be a time to get more aggressive on this name but not until either visibility improves, valuation becomes overly punitive, and/or management executes well above our forecasts. We are lowering our 2012E EPS to $2.20 from $2.45."
To see more ratings on ST, Click Here
Barclays analyst said, "We are moving to the sidelines on ST stock until visibility improves and content growth story returns to the foreground. The company's reduction of 4Q guidance last night marks the second quarterly "miss" in a row. This time the negative surprise is coming from the autos-tied Sensors business - key to the momentum story. Weakness in Europe was the main driver of the miss, and the reduced demand is unlikely to unwind through '12. While we still like ST's long-term prospects, the next 6 months could see continued inventory destock and European auto SAAR forecast cuts. There will be a time to get more aggressive on this name but not until either visibility improves, valuation becomes overly punitive, and/or management executes well above our forecasts. We are lowering our 2012E EPS to $2.20 from $2.45."
To see more ratings on ST, Click Here
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