3 Stocks You Need to Sell NOW
When even ever-optimistic Wall Street analysts are bearish on a stock, it's time to get out
A company that makes printers and ink. How quaint.
Not only does Lexmark (LXK) face intense pricing pressure from competitors like Xerox (XRX), Hewlett-Packard (HPQ) and Canon (CAJ), but it’s burdened with a high debt load, too.
True, earnings are supposed to grow this year even as sales slump more than 6%, but the Street doesn’t expect the trend to last long. Lexmark has a projected long-term growth rate of -3.2%.
Of the 12 analysts covering the stock, three call it a “hold,” while nine say it’s a “sell.” The average price target stands at $27, making the implied downside 20% in the next 12 months or so.
Article printed from InvestorPlace Media, http://investorplace.com/2013/10/stocks-to-sell-shld-lxk-czr/.
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