LFUS - Littelfuse downgraded at Baird ahead of anticipated electronics downturn

Baird assed Littelfuse ( NASDAQ: LFUS ) more bearishly in a downgrade note on Wednesday, advising back-half prospects look less than promising.

The firm downgraded the Chicago-based electronic manufacturing company to “Neutral” from “Buy”. A note to clients on Wednesday explained that outperformance since April alongside waning demand make the stock hard to recommend heading into the second half of the year as comps remain tough. It added that even if a recession is not in the cards, even a mild slowdown is enough to move the analysts to the sidelines.

“Bottom line, we see potential underperformance through the initial stages of a likely Electronics downturn,” the firm concluded.

Shares of Littelfuse ( LFUS ) traded largely flat prior to Wednesday’s market open.

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