Jefferies Lowers PT and Estimates on Brightpoint (CELL)

Jefferies cut estimates and its price target on Brightpoint (NASDAQ: CELL) from $11 to $10 after the company cut guidance by $0.02-$0.06 due to a N. America logistics customer shifting to a competitor.

"Despite this customer loss, we continue to believe that CELL is executing well in a volatile environment but that valuation is full," the firm comments, Jefferies does not believe the customer loss is T-Mobile.

The firm reiterated their Hold. They cut FY12 EPS from $1.17 to $1.10 and FY13 from $1.24 to $1.09.

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

Shares of Brightpoint closed at $10.00 yesterday.

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