Wedbush Downgrades Exide To Underperform - FT Vest U.S. Equity Buffer & Premium Income ETF - December (BATS:XIDE)

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According to Wedbush, Exide Technologies (NASDAQ: XIDE) is downgraded to Underperform.Wedbush said that it is downgrading Exide to UNDERPERFORM from NEUTRAL on a large 4Q11 miss on input cost issues significantly worse than we feared, which will likely persist as an operating challenge. “Exide reported revenue and operating EPS of $774.5m/$0.15 and adjusted EBITDA of $56.3m, vs. our forecast of $759.3m/ $0.30 with adjusted EBITDA of $75.2m. The company's operating performance deteriorated most significantly in Transport-NA.”Exide Technologies closed yesterday at $9.71.

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