Lehman Brothers rates Scitex shares Underperform

Scitex Corporation (Nasdaq:SCIX), which holds 12.7% of Creo (Nasdaq:CREO), is still contending with harsh market conditions, writes Lehman Brothers.

There are only a few solutions that might halt the deterioration in its results, says analyst Tobias Fischbein, hence his Underperform rating.

Scitex views its Creo holding as available for sale. Profit or loss from the holding would only be recognized if it is sold, even though the value of the holding shrank by $2 million during the second quarter, Fischbein notes. ...