In a report published Tuesday, Wunderlich Securities analyst Matthew S. Robison downgraded the rating on NetScout Systems NTCT from Buy to Hold, and lowered the price target from $52.00 to $40.00.
In the report, Wunderlich Securities noted, “Yesterday, NetScount (NTCT) announced a stock deal to combine with mostly related businesses of Danaher (DHR – NR). Management customer base additions will yield more opportunities to deploy NetScout voice-over-LTE offerings, as well as applications performance management and cyber security derivatives of the company's Applied Session Intelligence technology. However, it could be several quarters before the company can prove the sum is greater than the parts. Our new model combines unchanged F2016-2017 for NetScout, but adds the lower growth businesses being acquired and the increased shares. This yields downward forecast revision and reduction in our target to $40 from $52. Since we see little opportunity for appreciation for several months, we are revising our rating to Hold from Buy.”
NetScout Systems closed on Monday at $39.16.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies 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