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

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UPDATE: Bank Of America Downgrades Altera

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
Dec 2014Bank of AmericaDowngradesBuyNeutral
Dec 2014JP MorganMaintainsOverweight
Dec 2014JefferiesMaintainsHold

View More Analyst Ratings for ALTR
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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