UPDATE: Baird Downgrades Littelfuse Inc (LFUS) to Neutral
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Baird analyst David Leiker downgraded Littelfuse Inc (NASDAQ: LFUS) from Outperform to Neutral with a price target of $269.00 (from $289.00).
The analyst comments "Downgrading LFUS to Neutral based on Electronics-related risks, and locking in flat performance vs. the S&P 500 YTD (20%+ outperformance since mid-April). Our Neutral rating is based on three factors: 1) tough Electronics comps that create a difficult 2023 setup (recession or not), 2) negative Electronics demand signals from Baird’s proprietary passive component tracker, and 3) insufficient expected near-term strength ex-Electronics. Bottom line, we see potential underperformance through the initial stages of a likely Electronics downturn."
Shares of Littelfuse Inc closed at $250.88 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Downgrades
Related EntitiesRobert W Baird, Standard & Poor's
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