UPDATE: ISI Group Downgrades Altera Corporation to Hold, Lowers PT
In a report published Wednesday, ISI Group downgraded its rating on Altera Corporation (NASDAQ: ALTR) from Buy to Hold, and lowered its price target from $35.00 to $30.00.
ISI Group noted, “Our revised view is predicated on potential downside to both revenue and gross margin, primarily from greater than anticipated weakness in the industrial vertical, relatively higher inventory risks, mediocre bookings and backlog trends, a diminished tailwind from 28nm, and limited earnings power given rising expenses. Our new 2013 EPS estimate is $1.65, down from $1.90.”
Altera Corporation closed on Tuesday at $32.22.
Latest Ratings for ALTR
|Dec 2015||Wells Fargo||Terminates||Market Perform|
|Jun 2015||Wells Fargo||Downgrades||Outperform||Market Perform|
|Jun 2015||FBR Capital||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.