Market Overview

UPDATE: Stifel Nicolaus Reduces PT to $7.50 on EXFO on Negative Pre-Announcement

Related EXFO
EXFO Inc (EXFO) Jumps: Stock Moves 6.1% Higher - Tale of the Tape
Earnings Scheduled For October 8, 2013

Stifel Nicolaus reiterates its Buy rating on EXFO (NASDAQ: EXFO) but reduces its price target from $9 to $7.50.

Stifel Nicolaus notes, "The company now expects revenue to approximate $60 million compared to prior guidance for revenue to be in a range of $68-$73 million, our estimate of $71.0 million, and consensus of $70.2 million. Additionally, gross margin is anticipated to be negatively affected with EPS guided to be below the low end of the company's prior pro forma guidance range of $0.05-$0.09, which excludes $0.04 per share in after-tax intangibles amortization and stock-based compensation costs. Management cited a challenging macro environment for the revenue shortfall, believing industry capex trends, rather than share loss, are the culprit behind the miss."

EXFO closed at $5.45 on Friday.

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (EXFO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters