Market Overview

Gigamon Receives Upgrade After Dropping 36%

Share:

D.A. Davidson believes Gigamon's (NYSE: GIMO) 36 percent drop on Tuesday is a buying opportunity. Analyst Mark Kelleher upgraded shares from Neutral to Buy and has a $22.50 price target after lowering the price target from $36 yesterday.

The analyst assumes the company “can maintain a 23% growth rate for the foreseeable future.”

Khelleher arrived at his $22.50 price target by applying a 1.3 PEG ratio to the 2015 earnings per share estimate of $0.66.

The upgrade comes a day after the firm cut the price target from $34 to $22.50.

The 36 percent drop on Tuesday was due to weak preliminary first quarter results.

Share are up 1.1 percent to $17.51 in Wednesday's trading.

Latest Ratings for GIMO

DateFirmActionFromTo
Oct 2017DowngradesBuyHold
Oct 2017DowngradesBuyHold
Jul 2017UpgradesHoldBuy

View More Analyst Ratings for GIMO
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Mark KelleherAnalyst Color Analyst Ratings

 

Related Articles (GIMO)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
THCBarclaysMaintains33.0
DVABarclaysMaintains79.0
ARABarclaysMaintains9.0
VRTXCantor FitzgeraldMaintains229.0
HCMCLSAInitiates Coverage On
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Del Mar Pharmaceuticals Inc.

Ford Shares Trade Lower Following 15% Price Target Cut from Morgan Stanley