Deutsche Bank Downgrades TCP International (TCPI) to Hold

August 7, 2015 6:37 AM EDT
Get Alerts TCPI Hot Sheet
Price: $1.70 --0%

Rating Summary:
    1 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 18 | New: 17
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Deutsche Bank downgraded TCP International (NYSE: TCPI) from Buy to Hold with a price target of $5.00 (from $8.00). Analyst Vishal Shah noted limited upside catalysts.

"While LED adoption rates are accelerating, increased pricing pressure could present some headwinds in driving incremental revenue growth from this segment. Meanwhile, the CFL segment could see continued weakness in North America as one of the largest retail customers works through high inventory levels. We are lowering our 2015 EBITDA ests from $37M to $26M and price target from $8 to $5, rating from Buy to Hold," said Shah.

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

Shares of TCP International closed at $4.71 yesterday.

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