Market Overview

UPDATE: FBN Securities Upgrades Silicon Graphics International to Outperform

Related SGI
10 Stocks Which Rallied Three Days
Vetr Upgrades Hewlett Packard To 4.5 Stars

FBN Securities raised its rating on Silicon Graphics International (NASDAQ: SGI) from Sector Perform to Outperform and increased its price target from $8 to $11.

FBN Securities noted, "The company just reported EPS and GM above consensus for FQ4/June, and it is guiding revenue and EPS better than expected for FQ1/Sept. We think that the company is starting to stabilize from multiple moving parts (low-margin deals, Europe [where there was a 25% headcount reduction action recently], management transitions). Furthermore, with a UV2 rationalization in opex to $43-45M/quarter by the end of F2013/June from $48M in the recent quarter, and with the purging of all of the $87M in low-margin deals by the end of F2013, the company can experience material operating expansion."

Silicon Graphics International closed at $6.82 on Wednesday.

Latest Ratings for SGI

Aug 2016NeedhamDowngradesBuyHold
Apr 2016Sidoti & Co.DowngradesBuyNeutral
Sep 2014DA DavidsonUpgradesNeutralBuy

View More Analyst Ratings for SGI
View the Latest Analyst Ratings

Posted-In: FBN SecuritiesAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (SGI)

View Comments and Join the Discussion!