UPDATE: JPMorgan Downgrades Zebra Technologies (ZBRA) to Neutral

April 30, 2020 4:38 AM EDT
Get Alerts ZBRA Hot Sheet
Price: $569.22 +1.65%

Rating Summary:
    11 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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(Updated - April 30, 2020 4:46 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster downgraded Zebra Technologies (NASDAQ: ZBRA) from Overweight to Neutral with a price target of $250.00 (from $245.00).

The analyst comments "ZBRA is trading at 18.2x forward P/E (J.P. Morgan estimates) and 15.2x forward EV/EBITDA, which are above the three-year forward trading averages, pricing in a strong rebound in revenue and earnings in 2021, the benefit of stock buybacks, and accretive M&A. In our
view, the stock is now trading at fair value in the context of lingering COVID-19 risks and prospects for a muted recovery across ZBRA end markets through 2021, and we move to a rating, meaning that we now expect the stock to perform in line with the mean of our coverage universe over the next 6-12 months."

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

Shares of Zebra Technologies closed at $244.97 yesterday.


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