Brean Murray Reiterates Hold Rating on Lexmark International

In a company update published earlier today, Brean Murray, Carret & Co., LLC reiterated its Hold rating on Lexmark International, Inc.
LXK
, but did not name a price target. Brean Murray went on to say “LXK pointed to softer‐than‐expected demand (particularly in Europe) and a greater‐than‐expected impact from FX (which we believe will impact both revenue and margins). LXK also commented it expects demand softness to persist into 2H12...While LXK did not comment on its CY 2012 outlook, our sense is that EPS could end up around $4.00 (vs. prior CY 2012 guidance of $4.70 to $4.90). LXK will provide an updated outlook on its July 24th earnings call.” Lexmark International, Inc. closed yesterday at $24.31.
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