Wunderlich Securities Reiterates Hold and PT of $3 on Quantum Corporation (QTM)

Wunderlich Securities reiterated its Hold rating on Quantum Corporation (NYSE: QTM) ahead of Quantum's Q1 earnings report. At the same time, it has left its price target unchanged at $3.

In a research report published today, Wunderlich states, "Quantum Corp. (QTM) is slated to report its fiscal 4Q11 results after the market close today. The company previously preannounced that it anticipated revenue of approximately $165 million, at the low end of its guidance range for the quarter. We believe investors will be generally pleased with gross margin and a solid rebound at the high end of the disk and software business segment in the quarter. Looking ahead, we see the potential for a conservative reset of forward expectations as potentially tempering the share price near term as the company looks to rebuild credibility with investors. We rate QTM shares Hold with a $3 price target."

On Monday, Quantum lost 5.33% of its value to close the day at $2.84.