Oppenheimer Downgrades Kronos (KRO) to Perform
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Price: $6.78 -0.88%
Rating Summary:
3 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 8 | New: 23
Rating Summary:
3 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 8 | New: 23
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Oppenheimer downgraded Kronos (NYSE: KRO) from Outperform to Perform.
The firm comments, "The stock is up 56% since its November bottom and has hit our $20/share price target, now withdrawn. No change to estimates, 2012E EPS $1.91 and 2013E $0.99. Although KRO remains undervalued long term vs. 2011 peak EPS of $2.79, and we continue to expect the stock to eventually recover its former highs in the mid-$30s, the shares will likely be very choppy and range-bound at best through the 1H as earnings comps will remain negative until 2H. KRO is also currently at 20.3x '13E P/E, which will cap the stock in the near term, until investors get better clarity on 2014 EPS."
For an analyst ratings summary and ratings history on Kronos click here. For more ratings news on Kronos click here.
Shares of Kronos closed at $20.06 yesterday.
The firm comments, "The stock is up 56% since its November bottom and has hit our $20/share price target, now withdrawn. No change to estimates, 2012E EPS $1.91 and 2013E $0.99. Although KRO remains undervalued long term vs. 2011 peak EPS of $2.79, and we continue to expect the stock to eventually recover its former highs in the mid-$30s, the shares will likely be very choppy and range-bound at best through the 1H as earnings comps will remain negative until 2H. KRO is also currently at 20.3x '13E P/E, which will cap the stock in the near term, until investors get better clarity on 2014 EPS."
For an analyst ratings summary and ratings history on Kronos click here. For more ratings news on Kronos click here.
Shares of Kronos closed at $20.06 yesterday.
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