Deutsche Bank Downgrades Aixtron (AIXG) to Hold
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Price: $3.06 --0%
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 5
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 4 | New: 5
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Deutsche Bank downgraded Aixtron (NASDAQ: AIXG) from Buy to Hold. PT cut from E40 to E17.
Deutsche analyst says, "Our Q3 customer survey shows recent market volatility will likely have a more severe impact on capex plans in H2-11 and beyond, indicating downside risk to our previous bookings forecast of E200m/Q. In our base case we now expect an 11% guidance miss this year and a small revenue decline in 2012. In this scenario we think the shares fairly valued. However, further volatility, particularly in credit, would make a bear case of ~40% downside more likely. Hence, 2 years after our upgrade and after 9 quarters of growing orders, we downgrade to Hold."
For more ratings news on Aixtron click here and for the rating history of Aixtron click here.
Shares of Aixtron closed at $24.86 yesterday.
Deutsche analyst says, "Our Q3 customer survey shows recent market volatility will likely have a more severe impact on capex plans in H2-11 and beyond, indicating downside risk to our previous bookings forecast of E200m/Q. In our base case we now expect an 11% guidance miss this year and a small revenue decline in 2012. In this scenario we think the shares fairly valued. However, further volatility, particularly in credit, would make a bear case of ~40% downside more likely. Hence, 2 years after our upgrade and after 9 quarters of growing orders, we downgrade to Hold."
For more ratings news on Aixtron click here and for the rating history of Aixtron click here.
Shares of Aixtron closed at $24.86 yesterday.
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