UPDATE: JPMorgan Downgrades Zebra Technologies (ZBRA) to Neutral
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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."
Shares of Zebra Technologies closed at $244.97 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
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