TD Downgrades DragonWave (DRWI) to Reduce Following Q1 Report, Guidance

TD Securities downgraded DragonWave (NASDAQ: DRWI) from Hold to Reduce and lowered the stock's price target from $4 to $3.

The downgrade follows Q1 earnings report and guidance from the company on Wednesday afternoon and the resulting 12.6 percent decline in the stock on Thursday.

The firm said, "Given the lower starting point – Q2 sales guidance of $35mm-45mm versus consensus $51.1mm – the risk to hitting the $75mm quarterly target one year out (almost a doubling of Q2 revenue) seems high."

For an analyst ratings summary and ratings history on DragonWave click here. For more ratings news on DragonWave click here.

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