UPDATE: JPMorgan Upgrades Diebold (DBD) to Neutral

May 11, 2020 4:21 AM EDT
Get Alerts DBD Hot Sheet
Price: $11.61 +2.65%

Rating Summary:
    6 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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(Updated - May 11, 2020 4:34 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster upgraded Diebold (NYSE: DBD) from Underweight to Neutral with a price target of $7.00 (from $6.00).

The analyst comments "DBD is trading at ~6.0 times our 2021E PF EBITDA forecast, which is a discount to the three-year average of ~6.2x. The discount is warranted given the lack of growth, modest margins expansion, elevated debt leverage, as the firm enters a likely recession caused by the COVID-19 response. That said, the firm’s DN NOW program offers a path forward to better margins, EBITDA growth, lower interest costs in 2021-2022, and on balance we think both the near-term downside risk, and longer-term upside risk (~35% through 12/31 based on our price target), are priced into the stock here. As a Neutral-rated stock, we expect DBD to perform in line with the mean of our coverage over the next 6 - 12 months."

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

Shares of Diebold closed at $5.18 yesterday.


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