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UPDATE: Deutsche Bank Downgrades Molex Following Lower F4Q-13 Results, F1Q-14 Guidance

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In a report published Thursday, Deutsche Bank analyst Sherri Scribner downgraded Molex (NASDAQ: MOLX) from Buy to Hold, and lowered the price target from $34.00 to $32.00.

In the report, Deutsche Bank noted, “MOLX reported lower F4Q-13 results and F1Q-14 guidance due to soft Mobile Devices (tablet) demand. Challenges in Mobile Devices aside, MOLX noted a number of positive trends, including improving daily order rates and Q/Q growth in all other segments. Mgmt sees a continued recovery, albeit a slow one, with Europe stabilizing and the US slowly improving. We have lowered our estimates and price target to reflecting a more muted Mobile Devices outlook. With shares trading at 17x our revised FY-15E EPS, we view further upside as unlikely and we are downgrading the shares to a Hold.”

Molex closed on Wednesday at $29.96.

Latest Ratings for MOLX

DateFirmActionFromTo
Sep 2013William BlairDowngradesOutperformMarket Perform
Sep 2013CitigroupMaintainsNeutral
Sep 2013William BlairDowngradesOutperformMarket Perform

View More Analyst Ratings for MOLX
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Sherri ScribnerAnalyst Color Downgrades Analyst Ratings

 

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