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UPDATE: Jefferies Downgrades Altera to Hold on Valuation and Limited Catalysts

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Jefferies reduced its rating on Altera (NASDAQ: ALTR) from Buy to Hold and lowered its price target from $40 to $38.

Jefferies noted, "We lower our rating on ALTR to Hold based on our view of limited wireless infrastructure catalysts, gross margin headwinds and competitive headwinds associated with decelerating if not increasing cost per transistor on advanced process nodes. With EV/S and EV/FCF 8% and 7% above 5-yr median, we think the stock is fairly valued."

Altera closed at $34.77 on Wednesday.

Latest Ratings for ALTR

DateFirmActionFromTo
Jul 2014JefferiesMaintainsHold
Jun 2014FBR CapitalMaintainsOutperform
May 2014RBC CapitalUpgradesSector PerformOutperform

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View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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