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UPDATE: JP Morgan Upgrades Plantronics to Overweight on Constructive Outlook

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JP Morgan raised its rating on Plantronics (NYSE: PLT) from Neutral to Overweight and increased its price target from $39.50 to $41.

JP Morgan said, "PLT is down about 8.4% YTD (S&P500 up 11.7%) with which we think risk-reward is favorable and we are upgrading PLT to Overweight from a long-standing Neutral (November 2010). We are also raising estimates owing to our constructive outlook for adoption of UC headsets, higher ASPs for new product releases, and PLT's strong position in the enterprise segment of the headset market, which should protect against margin decline."

Plantronics closed at $32.79 on Wednesday.

Latest Ratings for PLT

DateFirmActionFromTo
Jul 2014JP MorganMaintainsOverweight
Oct 2013Raymond JamesDowngradesOutperformMarket Perform
Oct 2013Deutsche BankInitiates Coverage onBuy

View More Analyst Ratings for PLT
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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