Exodus Down on Target Cuts
Web hosting company Exodus (EXDS) was down 18% in early afternoon, hitting a 52-week low of $2.79.
This morning,
Prudential Securities
cut its price target on the stock to $9 from $15, following the same move by
Lehman Brothers
late Monday.
In a research note, Prudential analyst Michael Turits said, "Continued macroeconomic weakness and telecom shortfalls suggest enterprise demand will not make up for dot-com weakness."
Exodus had traded over 10% higher on the preopen
Island
ECN.
Loading ...