UPDATE: Jefferies & Company Downgrades Mercury Computer Systems to Hold, Lowers PT

In a report published Monday, Jefferies & Company downgraded its rating on Mercury Computer Systems

from Buy to Hold, and lowered its price target from $16.00 to $12.00. Jefferies noted, “We are downgrading MRCY and lowering our price target to $12 from $16. Our previous rating was based upon MRCY's position in attractive DoD markets (C4ISR, Electronic Warfare, Missile Defense) which still exists. However, uncertainty has delayed awards and the company could be operating in an uncertain environment over the next 12-18 months, with few catalysts.” Mercury Computer Systems closed on Friday at $10.62.