Gemalto: Barclays Capital cuts target to 37 euros.
(CercleFinance.com) - The underweight recommendation still applies but after the fourth profit warning in one year, the target price has been cut by 26%, down from 50 to 37 euros.
This amounts to a downside potential close to 15%.
“The payment and SIM card markets have deteriorated faster than even the most cautious of forecasts”, laments Barclays Capital.
In short, Gemalto's forecasts for 2017 are now more than 50% below its original guidance. This has incited BarCap to reduce its own projections and therefore the ensuing target price.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
This amounts to a downside potential close to 15%.
“The payment and SIM card markets have deteriorated faster than even the most cautious of forecasts”, laments Barclays Capital.
In short, Gemalto's forecasts for 2017 are now more than 50% below its original guidance. This has incited BarCap to reduce its own projections and therefore the ensuing target price.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.