Zoran: Jefferies Says “Sell” On Lost Converter Box Deals

Time to sell Zoran (ZRAN) shares, Jefferies & Co.’s Adam Benjamin advises this morning.

Benjamin, who actually already rated the stock Underperform, this morning cut his price target on the shares to $8.50 from $10. In a research note this morning, he asserted that recent channel checks find the company has lost two “material” TV converter box designs, “significantly lowering the upside opportunity in [the second half] that many investors are looking for.”

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