Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Wachovia Lowers Silicon Image Rating

Wachovia downgraded its investment recommendation on shares of Silicon Image (SIMG) to market perform from outperform.

Analyst Karl Motey says the downgrade was based on the challenging macro environment and the stock's valuation. He believes the shares are richly valued based on his lowered 2003 EPS estimate, trading at about 34 times p-e. Motey thinks the shares could trade in a range of $4.50 to $6.00 based on multiples of 28 times to 38 times his 2003 EPS estimate. The analyst believes the company is tracking to the low end of its first quarter guidance due to continued softness in the PC market and the slower than expected ramp-up of SATA hard disk drives. As a result, he cut hiss $24.3 million first quarter revenue estimate to $23.8 million and kept his 1-cent EPS estimate. Motey cut his 2003 estimates from EPS of 18 cents on $122.3 million in revenue estimate to EPS of 16 cents on $119.1 million in revenue.

blog comments powered by Disqus