Lazard Lowers SemiLEDs PT to $15 (LEDS)
Lazard Capital Markets lowered its SemiLEDs (NASDAQ: LEDS) price target from $21 to $15 in a research report published today. Lazard has previously given SemiLEDs a Buy rating.
In the report, Lazard states, "We believe F3Q will be a bottom in revenue, though sales will likely remain depressed for the remainder of the FY in our view. GM isn't likely to turn the corner until new product begins to ship in volume for a few quarters, which could be in CY12."
Shares of SemiLEDs were trading at $11.81 at the time of posting, down 18.33% from Monday's market close.
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