Loading...
Loading...
In a report published Thursday, Deutsche Bank analyst Sherri Scribner downgraded the rating on
MolexMOLX 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in