NEW YORK (TheStreet) -- Piper Jaffray downgraded JDS Uniphase (JDSU) to "neutral" from "overweight" and set a $12 price target in the wake of the company's fourth-quarter earnings report. The firm said the company offered soft guidance and is leveraged to telecom spending delays.
The stock was down 5.54% to $11.25 in pre-market trading Wednesday.
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EXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.------------ Separately, TheStreet Ratings team rates JDS UNIPHASE CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate JDS UNIPHASE CORP (JDSU) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year." You can view the full analysis from the report here: JDSU Ratings Report JDSU data by YCharts
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