JP Morgan maintains its underweight on CEDC CEDC as it lowers the price target to $3.85 from $6.50 as it updates estimates to reflect company guidance.
JP Morgan says, "We are updating our estimates following CEDC's Q3 results. Our new 2011 estimates are in line with CEDC's guidance at the net sales level (JPM forecast $915m, CEDC guidance $850m-$950m) and at the EPS level (JPM forecast $0.32, CEDC guidance $0.25-$0.45)."
CEDC closed at $4.56 per share on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in