Arris Group (ARRS) Clipped On Jefferies Downgrade
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Price: $31.66 --0%
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Shares of Arris Group Inc. (Nasdaq: ARRS) are down over 9% today following a downgrade from Jefferies & Co this morning.
Jefferies downgraded the stock from Hold to Undeperform and slashed their price target from $12 to $9.50. The firm said the company will be hurt as Comcast completes its software upgrade to the Docsis 3.0 technology. They said it is hard to see how Arris can generate the same amount of Docsis 3.0 software upgrade business once Comcast tapers off.
Jefferies downgraded the stock from Hold to Undeperform and slashed their price target from $12 to $9.50. The firm said the company will be hurt as Comcast completes its software upgrade to the Docsis 3.0 technology. They said it is hard to see how Arris can generate the same amount of Docsis 3.0 software upgrade business once Comcast tapers off.
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