Benchmark Downgrades Overland Storage (OVRL) to Speculative Hold; Unfavorable Ruling from ITC
Tweet
Share
E-mailGet Alerts OVRL Hot Sheet
Price: $3.48 --0%
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 15 | New: 9
Rating Summary:
2 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 15 | New: 9
Join SI Premium – FREE
Benchmark downgraded Overland Storage (NASDAQ: OVRL) from Speculative Buy to Speculateive Hold with a price target of $1.25.
Analyst, Mark W. Schappel, said, "We’ve long thought that a favorable ITC ruling could pave the way for additional patent infringement cases or licensing agreements for OVRL’s tape based storage patents from a broader sector of the industry. However, we believe this morning’s unfavorable ruling is likely to have an adverse impact on OVRL’s credibility with other potential patent infringement targets, diminishing the likelihood for further IP licensing opportunities and/or patent infringement cases, such as OVRL’s pending case against BDT in the Southern District of California."
For an analyst ratings summary and ratings history on Overland Storage click here. For more ratings news on Overland Storage click here.
Shares of Overland Storage closed at $2.00 yesterday.
Analyst, Mark W. Schappel, said, "We’ve long thought that a favorable ITC ruling could pave the way for additional patent infringement cases or licensing agreements for OVRL’s tape based storage patents from a broader sector of the industry. However, we believe this morning’s unfavorable ruling is likely to have an adverse impact on OVRL’s credibility with other potential patent infringement targets, diminishing the likelihood for further IP licensing opportunities and/or patent infringement cases, such as OVRL’s pending case against BDT in the Southern District of California."
For an analyst ratings summary and ratings history on Overland Storage click here. For more ratings news on Overland Storage click here.
Shares of Overland Storage closed at $2.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Double Downgrades Mosaic (MOS) to Sell
- Wells Fargo Downgrades Bio-Techne Corp. (TECH) to Equal Weight
- JPMorgan Downgrades Denso Corp. (6902:JP) (DNZOY) to Underweight
Create E-mail Alert Related Categories
DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
