Brazil Orders Diebold Machines Ahead of Schedule, JP Morgan Pulls Revenue Forward (DBD)
The Superior Electoral Court of Brazil has ordered a second purchase of 30,000 voting machines from Diebold (NYSE: DBD). 195,000 Diebold machines could ship in 2Q-3Q2010.
JP Morgan is pulling $30 million in revenue from FY2011 to FY2010. CY10 PF EPS went up to $2.13 from $2.06, while CY11 PF EPS went down to $2.24. JP Morgan analysts say that these estimates could be too conservative.
JP Morgan's price target for Diebold was revised downwards by $1 to $36. DBD is still rated Neutral.
Shares of DBD are currently trading at $28.24.
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Tags: JP Morgan