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

Prudential Cuts Ingram Micro to Neutral from Overweight

Prudential downgraded Ingram Micro (IM) to neutral from overweight, after the Santa Ana, Calif.-based technology distributor posted quarterly results on Tuesday.

Ingram Micro said it had 51 cents earnings per share (EPS) in the fourth quarter, compared to 48 cents during the same period of 2004. It sees 32 cents to 35 cents EPS in the first quarter of 2006.

Analyst Steven Fortuna says that the company's good times have mostly played out, however. While he thinks the company can improve its operations incrementally in 2006 and 2007, he thinks its already made most of the cost reductions and improved the operating efficiencies that it can. He thinks most of the improvement in North America has been done already, Europe operations are at near peak efficiency, and Asia only represents 17% of revenue. He cut his $24 stock price target to $22.

blog comments powered by Disqus