Loading...
Loading...
In a note out today, Morgan Stanley lowered its rating on Aeroflex
ARX to underweight from equal-weight with a $10 price target, which is below where the shares currently trade. The banks said it downgraded the stock because of because of 1) defense spending cuts pose an elevated headline risk; 2) weaker-than-anticipated LTE spending; and 3) what we believe is a low probability of achieving earnings guidance in the 2H of FY12.
Morgan Stanley also lowered its 2012 EPS estimate on Aeroflex to 99 cents from $1.12.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Analyst ColorNewsDowngradesPrice TargetPre-Market OutlookMarketsAnalyst RatingsPersonal Finance
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in