Auriga Reaction To Power One (PWER) Earnings: “Brownout”

A few days ago Auriga maintained their Buy rating on Power One (PWER) ahead of earnings.  As you may know, PWER posted weak guidance and plunged today with heavy volume.  Despite the weaker guidance, Auriga is maintaining their Buy rating but lowering their price target just a bit from $14 to $13.  The firm did not see excess inventory in Europe for the first half of the year so have had to adjust their EPS estimates a bit.  However, they still see significant growth returning in the 2nd half of the year and is impressed with the growth in the Power division.

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