Comtech downgraded to Market Perform from Outperform at Noble Capital

Noble Capital downgraded Comtech to Market Perform from Outperform after Comtech’s board terminated Ken Peterman as President and CEO in what the firm calls “a surprise move.” Yesterday’s announcement raises “a host of questions,” from how this impacts the ongoing refinancing efforts to the impact on operational momentum to timing of a CEO search, and given the uncertainty the firm is lowering its rating “until some of the smoke clears.”