UPDATE: Raymond James Downgrades Casa Sytems, Inc. (CASA) to Underperform on Competitive Threat
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(Updated - July 30, 2019 8:12 AM EDT)
(updated to add analyst comments)
Raymond James analyst Simon Leopold downgraded Casa Sytems, Inc. (NASDAQ: CASA) from Market Perform to Underperform.
- competitor's traction in virtualization projects threatens Casa's core cable business, and they hold a negative bias on sales trends.
- Casa recently closed its acquisition of NetComm; initially they questioned the deal, and now they see it as its best hope.
- Having taken the first pass at incorporating NetComm into their model and consider the downside and execution risk too high.
Shares of Casa Sytems, Inc. closed at $6.83 yesterday.
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