Dougherty & Co Downgrades MIPS Technologies (MIPS) to Neutral; Valuation Call - No Takeout Conviction
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Price: $7.98 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Dougherty & Co downgraded MIPS Technologies (NASDAQ: MIPS) from Buy to Neutral with a price target of $6.00.
Analyst, Charlie Anderson, said, "We are downgrading MIPS purely for valuation reasons as the stock has begun to hold up above our $6 price target for an extended period. To buy MIPS here, one has to assume a takeout premium (based on unconfirmed reports they are on the block) and we don’t have enough conviction that a sale gets done to assign one."
For an analyst ratings summary and ratings history on MIPS Technologies click here. For more ratings news on MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.79 yesterday.
Analyst, Charlie Anderson, said, "We are downgrading MIPS purely for valuation reasons as the stock has begun to hold up above our $6 price target for an extended period. To buy MIPS here, one has to assume a takeout premium (based on unconfirmed reports they are on the block) and we don’t have enough conviction that a sale gets done to assign one."
For an analyst ratings summary and ratings history on MIPS Technologies click here. For more ratings news on MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.79 yesterday.
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