Novell Downgraded by Analyst

Dr. Roy Schestowitz

2007-04-04 01:31:16 UTC
Modified: 2007-04-04 01:31:16 UTC

One of the major analysts at Wall Street is no longer particularly impressed by Novell's prospects.

Novell downgraded at Jefferies to Hold rating from Buy. Price target and 2007 EPS estimates hold at $8 and $0.07, respectively.

Comments

Shane Coyle

2007-04-04 09:36:16

Heh, I fell asleep while writing a similar post last night. One thing that was interesting was the effect of April's Fools day on NOVL stock:

Apparently, the suse-irc.org entry on April 1st about the "leaked" information that Microsoft was already in the process of aquiring Novell was picked up by some of the financial news aggregators, and resulted in a small rally early in the day Monday.
Jefferies downgraded Novell, Inc (NASDAQ: NOVL) to Hold from Buy on valuation after yesterday's "April Fool's-inspired" rally as the firm believes upside from the initial Microsoft-(MSFT) driven SLES deals and restructuring are priced in.

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Novell Downgraded by Analyst

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