Peregrine valuation attractive, says JMP Securities

theflyonthewall.com

After a teardown of Apple's (AAPL) new iPhones indicated that Peregrine's (PSMi) main antenna switches were not in the products, JMP Securities lowered its estimates on Peregrine but notes that the company trades at a more than 50% discount to most of its peers. The firm still views the company as a potential takeover target and keeps an Outperform rating on the stock.

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