Jefferies Lowers PT and Estimates on Brightpoint (CELL)

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February 22, 2012 12:55 PM EST
Get Alerts CELL Hot Sheet
Price: $1.00 --0%

Rating Summary:
    0 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Jefferies cut estimates and its price target on Brightpoint (NASDAQ: CELL) from $11 to $10 after the company cut guidance by $0.02-$0.06 due to a N. America logistics customer shifting to a competitor.

"Despite this customer loss, we continue to believe that CELL is executing well in a volatile environment but that valuation is full," the firm comments, Jefferies does not believe the customer loss is T-Mobile.

The firm reiterated their Hold. They cut FY12 EPS from $1.17 to $1.10 and FY13 from $1.24 to $1.09.

For an analyst ratings summary and ratings history on Brightpoint click here. For more ratings news on Brightpoint click here.

Shares of Brightpoint closed at $10.00 yesterday.

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