Jefferies Downgrades DragonWave (DRWI) to Hold

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May 4, 2012 9:10 AM EDT
Get Alerts DRWI Hot Sheet
Price: $0.12 --0%

Rating Summary:
    2 Buy, 6 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 12 | New: 12
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Jefferies downgraded DragonWave (NASDAQ: DRWI) from Buy to Hold and slashed its price target from $10 to $3 after Q4 results with weaker GM due to pricing pressure.

The firm comments, "We expected a big inflection in FQ1 (May), but guidance was weak due to the NSN deal and Sprint ramp being delayed. Longer-term the revenue and earnings trajectory from the NSN deal and Sprint ramp will likely be flatter than we had hoped. We are cutting our estimates, cutting our target to $3, and downgrading to a Hold."

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

Shares of DragonWave closed at $3.43 yesterday.

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