Analyst Alerts: Synergetics, MEMC, Research In Motion, Finisar, Riverbed May 30th
Synergetics USA, Inc. (NASDAQ:SURG): Benchmark Co. believes Synergetics’ weaker than expected Q3 outlook provides a buying opportunity and keeps a Buy rating on the stock with an $8 price target.
MEMC Electronic Materials Inc. (NYSE:WFR): Deutsche Bank attributes the recent pullback in shares of MEMC Electronic to balance sheet concerns after Moody’s put the company on its downgrade watch list. However, Deutsche believes the probability of a major liquidity event happening in Q2 or Q3 is low and reiterates a Buy rating on the stock. The firm says the balance sheet concerns are overblown.
Research In Motion Limited (NASDAQ:RIMM): Citigroup says Research in Motion’s fundamentals are much worse than expected following the company’s negative May quarter preannouncement last night. Citi lowered its price target for shares to $9.50 from $11.75 and believes major issues still face RIM. The firm thinks Research in Motion hired bankers to evaluate licensing revenue opportunities, not to sell the company, and reiterates a Sell rating on the stock.
Finisar Corp. (NASDAQ:FNSR): Piper Jaffray expects Finisar to report in-line results for the April quarter but believes the company’s guidance for the July quarter is likely to miss consensus estimates. The firm expects headwinds from Europe to limit share appreciation over the next two quarters, but sees a favorable set-up for Finisar in the second half of the year. Piper lowered its price target for shares to $19 from $22 but reiterates an Overweight rating on the name.
Riverbed Technology, Inc. (NASDAQ:RVBD): Piper Jaffray lowered its estimates for Riverbed citing the slowdown in Europe and decelerating demand for WAN Optimization. The firm believes the company’s guidance for the second half of 2012 is aggressive and creates some risk to estimates. Piper lowered its price target for shares to $20 from $24 and believes the stock lacks near-term catalysts.
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