Nomura Sees More Downside in Altera (ALTR)
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Price: $111.85 --0%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Yesterday Altera (NASDAQ: ALTR) announced it was lowering Q4 guidance, its third miss in four quarters. In response, Nomura Securities maintained a Reduce rating on Altera and cut its price target to $27.00 (from $29.00), as analysts see more downside in the stock.
"We continue to see weak fundamentals tied to subdued capex spending and poor positioning in some key end markets. This in our opinion is not reflected in valuation (19x CY13)," said analyst Romit Shah.
For an analyst ratings summary and ratings history on Altera (NASDAQ: ALTR) click here. For more ratings news on Altera click here.
Shares of Altera closed at $32.18 yesterday.
"We continue to see weak fundamentals tied to subdued capex spending and poor positioning in some key end markets. This in our opinion is not reflected in valuation (19x CY13)," said analyst Romit Shah.
For an analyst ratings summary and ratings history on Altera (NASDAQ: ALTR) click here. For more ratings news on Altera click here.
Shares of Altera closed at $32.18 yesterday.
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