Maytag 'Market Perform' Estimates Reduced May 24, 2004

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Analysts at investment firm Morgan Keegan maintain their "market perform" rating on Newton, IA, U.S.-based Maytag Corporation , while reducing their estimates for the appliance company.

In a published research note, the analysts mention that the "market perform" rating is based on valuation, poor-growth prospects of the company’s Hoover division and near-term cost pressures. A shift in consumer demand to lower point floor care products would negatively impact Hoover’s performance, the analysts believe. The operating EPS estimate for FY04 has been reduced from $2.25 to $2.20. (New Ratings)

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