J.P. Morgan Maintains Neutral Rating On Altera
According to J.P. Morgan, Altera (NASDAQ: ALTR) provided an update on its business for the first two months of its 2Q11.
J.P. Morgan said that the company reiterated its prior revenue guidance range of $535.8 million to $562.6 million (flat to up 5% QoQ), above our estimate of a 1% QoQ increase ($540.0 million). “We are maintaining our Neutral rating on ALTR stock until we gain more confidence estimates are not at risk.”
Altera closed yesterday at $47.20.
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