The implementation of their restructuring strategy seems to be on track, but is unlikely to help Zoran (NASDAQ:ZRAN), as DVD and DTV headwinds will continue on through 2011 and beyond.
As a result, profits will continue to be under pressure going forward for Zoran.
One positive for the company is their next quarterly report is expected to exceed earlier guidance, possibly giving a short-term boost for the share price of Zoran.
Wedbush reiterates their "Underperform" rating on Zoran, which closed Monday at $9.31, gaining $0.45, or 5.08 percent. Wedbush raised their price target on Zoran from $6 to $7.50.
Tuesday, January 25, 2011
Zoran (NASDAQ:ZRAN) Will Be Weighed Down by DVD, DTV Headwinds
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