J.P. Morgan has lowered its price target on Coinstar CSTR from $50 to $46.50 following the release of the company's 2Q11 results.
Says J.P. Morgan, in its report, “CSTR reported 2Q results and issued guidance in-line with pre-announcement and with the consensus expectations. Revenue shortfall was caused by underperformance of some day & date titles, performance of 28-day titles, and underwhelming Blu-Ray demand; margin upside was caused by supply chain improvements and a shift of a portion of expense into 2H.”
J.P. Morgan is maintaining its Underweight rating on the stock.
CSTR closed yesterday at $51.33.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryJ.P. MorganSpecialized Consumer Services
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