Mips downgraded to Hold from Buy at Jefferies

Jefferies analyst Adela Dashian downgraded Mips to Hold from Buy with a price target of SEK 525, down from SEK 570. Although Mips’ Q2 results were in line with Jefferies’ estimates, the market clearly showed a disappointment, the analyst tells investors in a research note. The firm noted that, with the expectation that the soft performance will continue into Q3, it is deciding to take a more cautious stance on FY results.