Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

RBC Capital Cuts Cognos to Sector Perform from Outperform


RBC Capital downgraded Cognos (COGN) to sector perform from outperform, explaining that the company's large third quarter shortfall was a blow to investors after its first quarter miss and previously lowered second quarter guidance.

Analyst Mike Abramsky says the company failed to convert an "ample" pipeline of large, standardized deals, while struggling with transitions. He cut his 39 cents third quarter earnings per share estimate to 31 cents and his $1.80 fiscal year 2007 (ending February) earnings per share estimate to $1.50 with 9% license growth. He says that his revised $33 target, down from $42, is inline with peer averages and he expects valuation to remain rangebound.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus