Oppenheimer Lowers Price Target on Brightpoint (CELL)
Research analysts at Oppenheimer (NYSE: OPY) cut their target price on shares of Brightpoint (NASDAQ: CELL) from $11.00 to $9.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the stock.
Shares of Brightpoint traded down 0.60% during mid-day trading on Wednesday, hitting $5.00. Brightpoint has a 52 week low of $4.91 and a 52 week high of $12.05. The company has a market cap of $345.5 million and a P/E ratio of 8.10.
Brightpoint last announced its earnings results on Thursday, April 26th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.04. The company’s quarterly revenue was up 23.0% on a year-over-year basis. On average, analysts predict that Brightpoint will post $0.26 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of Brightpoint to a “hold” rating in a research note to investors on Monday, April 30th. Separately, analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Brightpoint from $10.00 to $7.00 in a research note to investors on Monday, April 30th. Finally, analysts at Canaccord Genuity cut their price target on shares of Brightpoint from $14.00 to $10.00 in a research note to investors on Sunday, April 29th. They now have a “buy” rating on the stock.
Brightpoint, Inc. provides supply chain solutions to the wireless technology industry. The Company’s primary business is moving wireless devices closer to, or directly into, the hands of mobile subscribers.