Wells Fargo Downgrades Gentex (GNTX) to Market Perform; Potential Earnings Risk In The Intermediate Term
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Price: $23.81 -0.25%
Rating Summary:
9 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
9 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Wells Fargo downgraded Gentex (NASDAQ: GNTX) from Outperform to Market Perform, price target range lowered to $26-28 from $34-36.
Wells analyst said, "We believe the shares are range-bound in the near-to-intermediate term following Q4 results and management's business commentary. Both revenue growth and margin disappointed in Q4 and there is risk that could continue as 2012 evolves. We believe RCD shipment growth is likely to moderate further as 2012 unfolds. Simply put, we believe 2012 earnings have more downside risk than upside potential. Longer term, we do not have enough clarity on new product introductions/enhancements to look past the potential near-to-intermediate-term risks."
"We lower our 2012E EPS to $1.32 from $1.39 and our 2013E EPS to $1.57 (from $1.71)."
For an analyst ratings summary and ratings history on Gentex click here. For more ratings news on Gentex click here.
Shares of Gentex closed at $26.87 yesterday.
Wells analyst said, "We believe the shares are range-bound in the near-to-intermediate term following Q4 results and management's business commentary. Both revenue growth and margin disappointed in Q4 and there is risk that could continue as 2012 evolves. We believe RCD shipment growth is likely to moderate further as 2012 unfolds. Simply put, we believe 2012 earnings have more downside risk than upside potential. Longer term, we do not have enough clarity on new product introductions/enhancements to look past the potential near-to-intermediate-term risks."
"We lower our 2012E EPS to $1.32 from $1.39 and our 2013E EPS to $1.57 (from $1.71)."
For an analyst ratings summary and ratings history on Gentex click here. For more ratings news on Gentex click here.
Shares of Gentex closed at $26.87 yesterday.
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