Jefferies Trims Numbers on Power-One (PWER), Keeps Buy
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Price: $40.79 -0.42%
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 24 | New: 110
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 24 | New: 110
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Jefferies trimmed estimates and its price target on Power-One (NASDAQ: PWER) from $7 to $6 but maintained its Buy rating.
The firm comments, "PWER is executing on sales thanks to new product, but falling short on manufacturing execution causing lower margin. Management is guiding to GM improvement for 2Q, but 2H12 topline will be weak as European markets contract. Stock most likely range bound, but represents a unit play on solar volume recovery in 2013."
Q2 EPS goes from up $0.13 to $0.16, FY12 goes down from $0.60 to $0.49 and FY13 goes down from $0.85 to $0.70.
For an analyst ratings summary and ratings history on Power-One click here. For more ratings news on Power-One click here.
Shares of Power-One closed at $4.43 yesterday.
The firm comments, "PWER is executing on sales thanks to new product, but falling short on manufacturing execution causing lower margin. Management is guiding to GM improvement for 2Q, but 2H12 topline will be weak as European markets contract. Stock most likely range bound, but represents a unit play on solar volume recovery in 2013."
Q2 EPS goes from up $0.13 to $0.16, FY12 goes down from $0.60 to $0.49 and FY13 goes down from $0.85 to $0.70.
For an analyst ratings summary and ratings history on Power-One click here. For more ratings news on Power-One click here.
Shares of Power-One closed at $4.43 yesterday.
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