Kepler Capital analyst Ruben Devos downgraded Alfen NV ( 703 – Research Report) to a Sell on June 27 and set a price target of €12.00. The company’s shares closed last Thursday at €16.65.

Based on Alfen NV’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €241.91 million and a GAAP net loss of €15.95 million.