TEL AVIV Jan 7 The Clal Finance brokerage on
Monday lowered its recommendation for Israeli chip designer
Mellanox Technologies to "market perform" from "buy"
after the company warned of lower than expected fourth-quarter
Clal also removed its $115 price target for Mellanox
until the company provides its forecast for the first
quarter of 2013, which is expected later in January. The shares
were down $0.17 at $52.14 in early Nasdaq trade.
"We estimate that Mellanox's weakness is tied to the macro
environment," analyst Jonathan Kreizman said in a report. "We
will review our recommendation if and when we see signs pointing
to a return to growth momentum."