Affymetrix (AFFX) Q2 Shows Improvement; Goldman Maintains Sell
Tweet
Share
E-mailGet Alerts AFFX Hot Sheet
Price: $14.01 --0%
Rating Summary:
4 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 9 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Goldman Sachs maintained a Sell rating on Affymetrix (NASDAQ: AFFX) and raised its price target to $3.70 (from $3.30). The change follows better than anticipated Q2 results.
Analyst Isaac Ro said, "We raise our estimates on better margins and improved cash flow outlook. As such, our 6-month price target goes to $3.70 from $3.30 and is based on DCF (weighted 67%) and P/S multiple (weighted 33%)."
Ro's sell rating is based on the idea that Affymetrix faces secular growth headwinds combined with limited balance sheet flexibility.
"Although revenue is still declining, the pace of decline is decelerating and that modest profitability and debt service is encouraging," he said.
Despite this, he maintained a negative view on the stock.
For an analyst ratings summary and ratings history on Affymetrix click here. For more ratings news on Affymetrix click here.
Shares of Affymetrix closed at $3.80 yesterday.
Analyst Isaac Ro said, "We raise our estimates on better margins and improved cash flow outlook. As such, our 6-month price target goes to $3.70 from $3.30 and is based on DCF (weighted 67%) and P/S multiple (weighted 33%)."
Ro's sell rating is based on the idea that Affymetrix faces secular growth headwinds combined with limited balance sheet flexibility.
"Although revenue is still declining, the pace of decline is decelerating and that modest profitability and debt service is encouraging," he said.
Despite this, he maintained a negative view on the stock.
For an analyst ratings summary and ratings history on Affymetrix click here. For more ratings news on Affymetrix click here.
Shares of Affymetrix closed at $3.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Revolution (RVMD) PT Raised to $179 at Bernstein SocGen Group
- DA Davidson Starts Comfort Systems USA (FIX) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Goldman SachsSign 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!
