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UPDATE: Bank of America Downgrades Columbia Sportswear Company to Underperform on Pre-Announcement

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Bank of America downgraded Columbia Sportswear Company (NASDAQ: COLM) from Buy to Underperform and lowered the price objective from $60.00 to $45.00.

Bank of America commented, "We are downgrading Columbia Sportswear to Underperform (from Buy) following COLM's pre-announcement of updated 4Q12 guidance well below our forecast. COLM now expects 4Q net sales to decline – (5%) (vs. forecast up 1.5%) and operating margin erosion to 9.4%-10.3% of sales (vs. forecast 10.9%) driven primarily by weaker than anticipated sell-thru during the mild North America winter resulting in an increased promotional environment and liquidation of excess inventory (partially offset by expense reductions)."

Columbia Sportswear Company closed at $52.16 on Wednesday.

Latest Ratings for COLM

DateFirmActionFromTo
Jan 2015Morgan StanleyInitiates Coverage onUnderweight
Jan 2015Wells FargoInitiates Coverage onMarket Perform
Dec 2014Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for COLM
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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