Goldman Sachs Downgrades Diebold (DBD) to Sell, Growth at Risk

Goldman Sachs downgraded Diebold (NYSE: DBD) from Neutral to Sell with a price target of $27.00 (from $29.00) saying relative valuation and growth expectations appear at risk.

The firm is more cautious on (1) the company’s core ATM demand backdrop as banks focus on controlling expenses in a tough environment; (2) potential share losses in the US regional and Brazil ATM market to NCR where its order growth has shown relative strength; and (3) potential pricing risk from a shift in orders to larger banks.

Goldman lowerd 2013/2014 EPS estimates to $2.27/$2.47 from $2.41/$2.61.

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 $30.77 yesterday.

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