JPMorgan, Needham, HSBC Downgrade Spreadtrum (SPRD) Following Q4 Results, Q1 Outlook

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.

• 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

To track all the market-moving analyst action on shares of Spreadtrum, visit our Analyst Ratings page.

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