Deutsche Bank Downgrades Siliconware Precision Industries (SPIL) to Hold; Valuation Call

Deutsche Bank downgraded Siliconware Precision Industries (NASDAQ: SPIL) from Buy to Hold.

Deutsche analyst said, "Downgrading to Hold due to the limited upside potential to our target price of NT$37. We remain positive on the company's improved fundamentals, including a margin recovery, market share gain in Qualcomm (Nasdaq: QCOM) from 4Q12 onwards, and catch-up in copper migration. However, we believe the market has priced in these positives after a 40% share price rebound since the trough in 4Q11 and the current 2012 PB is close to the mid-cycle average of 1.9x. We suggest investors wait for better entry points."

For an analyst ratings summary and ratings history on Siliconware Precision Industries click here. For more ratings news on Siliconware Precision Industries click here.

Shares of Siliconware Precision Industries closed at $5.84 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Wells Fargo Downgrades Roku Inc. (ROKU) to Equal Weight
• JPMorgan Downgrades HomeCo Daily Needs REIT (HDN:AU) to Neutral
• Barclays Downgrades Murphy Oil Corp. (MUR) to Underweight