Analyst Down On Concurrent5/27/2001 8:00 PM Eastern
Morgan Keegan & Co. Inc. analyst Murray Arenson downgraded Concurrent Computer Corp. from "outperform" to "market perform," after the video-on-demand service provider completed a $26 million private-placement offering. Although the deal will be dilutive to shareholders by about 10 percent, Arenson was more concerned with recent inconsistencies at the company. Concurrent has lowered its VOD guidance for the past two quarters, despite expressing confidence in earlier forecasts. "We believe Concurrent is having difficulties assessing and responding to the market in a consistent, reliable fashion," Arenson wrote.