Black Diamond Q4 estimates could be at risk, says Needham Needham said Black Diamond's outlook and its estimates for the company's Q4 could be at risk due to the late winter. The firm recommends using any weakness in shares post the company's Q4 results as an aggressive buying opportunity. The firm expects any negative sentiment to be short-lived and maintains a Strong Buy rating on the stock with a $15 price target.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Underweight from Neutral at JPMorgan... Alcatel-Lucent (ALU) downgraded to Buy from Conviction Buy at Goldman... Anglo American (AAUKY) downgraded to Sell from Neutral at Goldman... BAE Systems (BAESY) downgraded to Neutral from Buy at UBS... BHP Billiton (BHP) downgraded to Neutral from Conviction Buy at Goldman... Black Diamond (BDE) downgraded on valuation at Stifel... Boston Private Financial (BPFH) downgraded to Hold from Buy at Sandler O'Neill... Columbus McKinnon (CMCO) downgraded to Neutral from Buy at CL King... CoreSite Realty (COR) downgraded to Hold from Buy at Evercore ISI... Meggitt (MEGGF) downgraded to Sell from Neutral at UBS... Methanex (MEOH) downgraded to Sector Perform from Outperform at Scotia Capital... Nokia (NOK) downgraded to Neutral from Buy at Citigroup... SanDisk (SNDK) downgraded to Sell from Neutral at BTIG... Thomson Reuters (TRI) downgraded to Sector Perform from Outperform at RBC Capital... Turquoise Hill (TRQ) downgraded to Hold from Speculative Buy at TD Securities... Washington Federal (WAFD) downgraded to Neutral from Buy at DA Davidson.
Black Diamond downgraded on valuation at Stifel As noted earlier, Stifel downgraded Black Diamond to Hold from Buy. The firm downgraded the stock on valuation, as it believes that the shares fully reflect an optimistic takeover price for the company after it said it would explore strategic alternatives.