Markets & Finance

William Blair Cuts Pall to 'Market Perform'


Pall Corp. (PLL) reported second-quarter earnings per share of 20 cents, vs. 25 cents a year ago. William Blair downgraded the stock to market perform.

Analyst William Benton tells S&P MarketScope that Pall's second-quarter EPS missed his estimate by 9 cents. He thinks restructuring charges are becoming more operating vs. one-time in nature. He says it is becoming increasingly difficult for the company to reach back-half expectations as gross margin weaker than expected due to mixed issues.

Benton thinks hitting the bottom end of $1.25 to $1.40 2004 EPS target may be difficult. At current levels, he believes there is further downside potential to the stock price given the lack of conviction.


Silicon Valley State of Mind
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus