Jefferies Upgrades Comtech Telecom (CMTL) to Hold

Jefferies analyst George Notter upgraded Comtech Telecom (NASDAQ: CMTL) from Underperform to Hold with a price target of $3.50.

The analyst comments: "Last week, Comtech announced their new credit facility—taking the near-term balance sheet risk off the table. However, it's expensive funding, and we still have reservations about the unbilled receivables and “going-concern” language. We tweak our estimates, but our Price Target remains $3.50. Upgrade to Hold."

For an analyst ratings summary and ratings history on Comtech Telecom click here. For more ratings news on Comtech Telecom click here.

Shares of Comtech Telecom closed at $3.35 yesterday.

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