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Mercury Systems Stock Slips After Jefferies Downgrade

Published 08/04/2022, 18:50
Updated 08/04/2022, 19:45
© Reuters.  Mercury Systems Stock Slips After Jefferies Downgrade
MRCY
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  • Jefferies analyst Sheila Kahyaoglu downgraded Mercury Systems Inc (NASDAQ: MRCY) to Hold from Buy and raised the price target to $65 (an upside of 4.7%) from $62.
  • Kahyaoglu notes that the stock had increased 30% since the company released its Q2 earnings on February 1, owing to solid momentum in the Defense sector and three activist campaigns.
  • According to Kahyaoglu, Mercury faces fundamental near-to-medium-term headwinds and is likely to cut FY22 guidance and fiscal Q3 earnings due in early May.
  • Price Action: MRCY shares are trading lower by 4.32% at $62.07 on the last check Friday.
Latest Ratings for MRCY DateFirmActionFromTo
Feb 2022JP MorganMaintainsOverweight
Jan 2022BerenbergInitiates Coverage OnBuy
Oct 2021RBC CapitalInitiates Coverage OnSector Perform
View More Analyst Ratings for MRCY

View the Latest Analyst Ratings

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