UPDATE: J.P. Morgan Downgrades Zebra Technologies; Lowers PT
According to a research report published this morning, J.P. Morgan has downgraded Zebra Technologies (NASDAQ: ZBRA) from Overweight to Neutral, and lowered PT from $44.50 to $41.
In the report, J.P. Morgan said, "We expect enterprise investment activity to moderate owing to escalating risk associated with the European sovereign debt crisis, the US fiscal cliff, and slower China GDP growth. Zebra's hardware sales are sensitive to shifts in enterprise sentiment, and we therefore are trimming 2012 revenue growth and margins slightly, though we still expect a modest acceleration in growth in 2013. We still like ZBRA with a long-term perspective, but this may not be the time to add to positions owing to incremental cyclical risks, so we downgrade to Neutral."
Zebra Technologies is currently trading at $34.76.
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