Details to UBS Downgrade of Layne Christensen (LAYN); Recent Data Suggests Weak Mining Markets
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Price: $15.41 --0%
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UPDATE from yesterday's mid-day call: UBS downgraded Layne Christensen (Nasdaq: LAYN) from Neutral to Sell. Price target cut from $21 to $17.
Analyst, Steven Fisher, said the downgrade was to reflect our expectation that earnings are going to come under pressure from weakening mining markets, combined with still weak conditions in municipal water markets affecting LAYN's Heavy Civil business, and continued low natural gas prices pressuring Layne Energy."
FY13 EPS estimates were lowered from $1.40 to $1.30 and FY14 from $1.90 to $1.70.
To see more ratings on LAYN, Click Here
Analyst, Steven Fisher, said the downgrade was to reflect our expectation that earnings are going to come under pressure from weakening mining markets, combined with still weak conditions in municipal water markets affecting LAYN's Heavy Civil business, and continued low natural gas prices pressuring Layne Energy."
FY13 EPS estimates were lowered from $1.40 to $1.30 and FY14 from $1.90 to $1.70.
To see more ratings on LAYN, Click Here
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