JPMorgan, Needham, HSBC Downgrade Spreadtrum (SPRD) Following Q4 Results, Q1 Outlook
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Price: $30.93 --0%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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In addition to a downgrade from Chardan Capital earlier Thursday, analysts at JPMorgan, Needham and HSBC also downgraded ratings on shares of Spreadtrum Communications (Nasdaq: SPRD) this morning.
The numerous downgrades follow Q4 results and guidance on Wednesday and the resulting 18 percent plunge in the stock. Shares are continuing lower Thursday, currently down 3.2 percent to $13.43.
The numerous downgrades follow Q4 results and guidance on Wednesday and the resulting 18 percent plunge in the stock. Shares are continuing lower Thursday, currently down 3.2 percent to $13.43.
- JPMorgan - from Overweight to Neutral, price target from $30 to $15
- Needham - from Strong Buy to Buy, price target from $26 to $18
- HSBC - from Overweight to Neutral, price target from $30 to $17
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