Jefferies Downgrades Echelon (ELON) to Hold
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Price: $21.88 --0%
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies downgraded Echelon (NASDAQ: ELON) from Buy to Hold with a price target of $4.00 (from $8.00).
The analyst comments, "Following guidance for a sharp seq q/q decline in rev, we reduce 2013 rev for flat y/y growth and downgrade shares of ELON to Hold from Buy and lower our PT to $4 from $8. We don’t believe the company will be able to secure sufficient orders in the near-term to provide visibility into 2013."
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $3.49 yesterday.
The analyst comments, "Following guidance for a sharp seq q/q decline in rev, we reduce 2013 rev for flat y/y growth and downgrade shares of ELON to Hold from Buy and lower our PT to $4 from $8. We don’t believe the company will be able to secure sufficient orders in the near-term to provide visibility into 2013."
For an analyst ratings summary and ratings history on Echelon click here. For more ratings news on Echelon click here.
Shares of Echelon closed at $3.49 yesterday.
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