Analysts Picks & Changes
Published on Monday, July 12, 2010
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Company
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Bank
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Analyst
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Coverage
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Opinion
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Wk
chg
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7/9
cls
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Affymetrix
Inc. (NASDAQ:AFFX)
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UBS
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Derik
de Bruin
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Price
target
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Neutral
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-35%
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$3.80
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de
Bruin lowered his target to $4.50 from $7 after Affymetrix reported lower
than expected preliminary 2Q10 sales revenue of $71-$72M, below the previous
guidance of $80-$82M. The company cited slower instrument uptake and a
decline in RNA product sales related to the integration of recent
acquisitions and realignment of sales territories. de Bruin also lowered his
FY10 and FY11 sales estimates to $307M and $326M, respectively, from $339M
and $356M (see "Suffering from Austerity," A20).
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