Goldman Sachs Downgrades CSG Systems International Inc. (CSGS) to Sell
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Price: $49.81 +1.18%
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
8 Buy, 3 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Goldman Sachs downgraded CSG Systems International Inc. (NASDAQ: CSGS) from Neutral to Sell with a price target of $12 (down from $18), suggesting 14% downside.
The firm also lowered CY2012 and CY2013 management-defined cash EPS (excluding amortization and stock comp) by 7% on average, reflecting lower revenue growth (3 pp) and operating margins (-30 bp).
"In our view, CSGS's weaker than expected 2Q results and reduced outlook are a function of structural challenges in its core Cable/Satellite vertical and execution missteps in the integration of Intec, both of which will take multiple quarters to resolve," the analyst said.
For more ratings news on CSG Systems International Inc. click here and for the rating history of CSG Systems International Inc. click here.
Shares of CSG Systems International Inc. closed at $14.01 yesterday.
The firm also lowered CY2012 and CY2013 management-defined cash EPS (excluding amortization and stock comp) by 7% on average, reflecting lower revenue growth (3 pp) and operating margins (-30 bp).
"In our view, CSGS's weaker than expected 2Q results and reduced outlook are a function of structural challenges in its core Cable/Satellite vertical and execution missteps in the integration of Intec, both of which will take multiple quarters to resolve," the analyst said.
For more ratings news on CSG Systems International Inc. click here and for the rating history of CSG Systems International Inc. click here.
Shares of CSG Systems International Inc. closed at $14.01 yesterday.
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