Needham & Company Downgrades GSI Group (GSIG) to Hold
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Price: $47.22 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded GSI Group (NASDAQ: GSIG) from Buy to Hold.
"We are lowering our rating to Hold from Buy following disappointing Q3 guidance and likelihood of a tepid 2H recovery in general," said analyst James Ricchiuti.
"Our investment thesis on GSIG centered on mgmt executing on a major facilities rationalization, divesting non-core systems businesses and increasing its emphasis on growth opportunities for its precision motion and laser businesses in the medical, scientific and industrial markets. While major elements of our thesis are intact, the market environment has deteriorated, resulting in downward revisions to our revenue and EPS estimates," added Ricchiuti.
For an analyst ratings summary and ratings history on GSI Group click here. For more ratings news on GSI Group click here.
Shares of GSI Group closed at $10.36 yesterday.
"We are lowering our rating to Hold from Buy following disappointing Q3 guidance and likelihood of a tepid 2H recovery in general," said analyst James Ricchiuti.
"Our investment thesis on GSIG centered on mgmt executing on a major facilities rationalization, divesting non-core systems businesses and increasing its emphasis on growth opportunities for its precision motion and laser businesses in the medical, scientific and industrial markets. While major elements of our thesis are intact, the market environment has deteriorated, resulting in downward revisions to our revenue and EPS estimates," added Ricchiuti.
For an analyst ratings summary and ratings history on GSI Group click here. For more ratings news on GSI Group click here.
Shares of GSI Group closed at $10.36 yesterday.
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