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UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Benchmark Electronics

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In a report published Friday, Deutsche Bank reiterated its Hold rating on Benchmark Electronics (NYSE: BHE), but slightly lowered its price target from $16.00 to $15.00.

Deutsche Bank noted, “New programs helped BHE achieve slightly better-than-expected F3Q-12 results, but F4Q-12 guidance was softer on increased customer caution and forecast reductions. Similar to other EMS providers, BHE noted that is saw a deterioration of demand in the last few weeks of September. We have reduced our estimated and cut our PT from $16 to $15. With BHE trading at a discount to book value, we see limited downside risk to the name, but we believe a challenged growth environment will limit upside. Maintain Hold.”

Benchmark Electronics closed on Thursday at $14.51.

Latest Ratings for BHE

DateFirmActionFromTo
Apr 2016B. RileyDowngradesBuyNeutral
Jul 2015Raymond JamesUpgradesMarket PerformOutperform
Jul 2015B. RileyInitiates Coverage onBuy

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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