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SGH price target lowered to $27 from $28 at Stifel
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SGH price target lowered to $27 from $28 at Stifel

Stifel lowered the firm’s price target on SGH to $27 from $28 and keeps a Buy rating on the shares after the company reported fiscal Q2 earnings on Tuesday. The revenue outlook for fiscal Q3 ending in May was below the firm’s view and consensus, driven mainly by the harder Q2 reset to memory, though this "not wholly surprising given the slide in memory ASPs." Stifel notes that its Q3 EPS estimate of 40c is unchanged with gross margins "expected to be resilient."

Published first on TheFly

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