Peregrine price target lowered to $11 from $15 at JMP Securities

theflyonthewall.com

JMP Securities reduced its price target on Peregrine after the company provided lower than expected Q4 revenue guidance. However, the firm thinks that the stock is still attractive for medium and longer term investors, given attractive valuation and a number of products that should boost the company in 2014. The firm keeps an Outperform rating on the stock.

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