VeriSign: Jefferies Downgrades To Hold On Valuation Basis
Jefferies analyst Katherine Egbert this morning downgrades VeriSign (VRSN) shares to Hold form Buy on a valuation basis; she keeps her $27 price target on the stock, which closed Friday at $25.94.
“Continued aggressive share repurchases and higher margins could boost earnings in 2010 and 2011, but investors should be aware of management’s need to carefully balance price increases and profits against the public nature of domain pricing,” she writes in a research note. “Given the recent run in VRSN shares and uncertainty around future upside levers, we are exhibiting valuation discipline and downgrading the stock.”
VRSN is down 11 cents, or 0.4%, to $25.83.
|
