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

Bloomberg Customers

Markets & Finance

Banc of America Downgrades Actel to 'Neutral'

Banc of America downgraded Actel (ACTL) to neutral from buy.

Analyst Sumit Dhanda says although fundamentals remain intact, valuation is stretched. He notes shares have appreciated 57% year to date, and he believes the stock is fully valued at current levels. He says the third quarter is tracking to expecations, and business fundamentals remain strong. While he keeps the 36 cents 2003 earnings per share estimate, he adjusted the 77 cents 2004 earnings per share estimate to 75 cents on a slightly higher-than-expected share count.

Dhanda says Actel remains his favorite small-cap name. He has a $24 target, at 32 times the 2004 earnings per share estimate.

blog comments powered by Disqus