Home » Archive for May, 2012

Jefferies Group Boosts Price Target on EnerSys (ENS)

Equities researchers at Jefferies Group (NYSE: JEF) raised their target price on shares of EnerSys (NYSE: ENS) to $40.00 in a report issued on Thursday. The analysts wrote, “ENS reported results in line with the May 10 pre-release, however margins surprised to the upside. Despite European headwinds, continued acquisitionsand buildouts in developing markets will drive growth in FY13 and beyond, and management has consistently executed on this strategy. We think the very strong results and outlook... 

JPMorgan Chase Raises Price Target on The Fresh Market (TFM)

Equities researchers at JPMorgan Chase (NYSE: JPM) lifted their target price on shares of The Fresh Market (NYSE: TFM) from $55.00 to $61.00 in a report issued on Thursday. The analysts wrote, “Following yesterday’s earnings, we are reiterating our Overweight rating on The Fresh Market and raising our Dec-12 price target to $61 from $55. TFM’s top line and gross margin seem to be gaining momentum, and we have no reason to believe the drivers behind 1Q12′s... 

Zacks Reaffirms Neutral Rating on Wells Fargo & Co. (WFC)

Wells Fargo & Co. (NYSE: WFC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Thursday. They currently have a $33.00 price target on the stock. Zacks’ analyst wrote, “Wells Fargo’s first quarter 2012 earnings were slightly ahead of the Zacks Consensus Estimate, primarily driven by a higher top line, attributable to solid mortgage banking and market sensitive revenues. It also reported $400 million (pre-tax) reserve release,... 

Oracle Looking to Dethrone IBM

Oracle is looking to take over the lead from IBM in business network hardware, which includes high-end servers. Larry Ellison, Oracle’s CEO said its biggest competitor was Big Blue during a chat on-stage at the All Thing Digital Conference that was hosted by Robert Murdoch’s technology website. Ellison said that before IBM had been number one for databases, but now Oracle is. He also said IBM was number one for middleware and now it’s Oracle and finally IBM is number one for high-end servers... 

Jobless Claims Increase, Private Jobs add 133,000

New unemployment claims increased last week for the fourth consecutive week heightening concerns the recovery in the labor market is softening. During May, private employers also added just 133,000 jobs, which was fewer than anticipated. Growth in the U.S. was also slower than initially thought during the first quarter as businesses inventories were restocked at just a moderate pace and spending by the government was down sharply. Economists had predicted an increase in jobs of 150,000 for May. Analysts... 

Big Sizes to Be Banned In NYC

The city of New York plans to ban the sale of large soft drinks and other drinks that have high amounts of sugar, at movie theaters, restaurants and street carts. This is the biggest effort yet by the city of New York in its war against obesity. The ban would affect nearly the all of the menus of sugary drinks found at fast food franchises, delis, pizzerias and sports arenas from pre-sweetened teas to energy drinks. The largest drink that would be allowed in the proposed plan would be just 16 ounces,... 

Citigroup Cuts Price Target on Analog Devices (ADI)

Equities researchers at Citigroup (NYSE: C) dropped their target price on shares of Analog Devices (NYSE: ADI) from $46.00 to $41.00 in a report issued on Thursday. The analysts wrote, “ADI’s F3Q-Jul sales outlook provided on 5/22 undershot our and the Street’s prior expectation due to a decelerating industrial recovery. Contrasting AVGO’s mid-teens guidance on Asia picking up, ADI’s industrial should grow low-single digits reflecting macro uncertainty in Europe where... 

Global Hunter Securities Initiates Coverage on Arch Coal (ACI)

Equities research analysts at Global Hunter Securities initiated coverage on shares of Arch Coal (NYSE: ACI) in a research note issued to investors on Thursday. The firm set a “neutral” rating on the stock. The analysts wrote, “We are initiating coverage on ACI with a Neutral rating. We project that ACI will lose money the next 3-6 quarters. Based on its average EV/EBITDA multiple over the last three years of 8.9x multiplied by our 2013 EBITDA estimate it would represent $13.79... 

Brean Murray Initiates Coverage on SeaChange (SEAC)

Equities research analysts at Brean Murray initiated coverage on shares of SeaChange (NASDAQ: SEAC) in a research note issued to investors on Thursday. The firm set a “buy” rating and a $11.00 price target on the stock. The analysts wrote, “We believe SeaChange is well positioned to capitalize on the shift to TV Everywhere, and that new management has sharpened the company’s focus and will improve financial results. SeaChange has divested non-core assets and is now focused... 

Piper Jaffray Cuts Price Target on Yingli Green Energy Hold. Co. (YGE)

Equities researchers at Piper Jaffray (NYSE: PJC) dropped their target price on shares of Yingli Green Energy Hold. Co. (NYSE: YGE) from $4.50 to $4.00 in a report issued on Thursday. The analysts wrote, “YGE continues to show cost leadership following 1Q12 earnings, helping offset a tough pricing environment. YGE reported 1Q12 revenue and EPS of $500m and ($0.29) vs. consensus of $429m and ($0.21). Excluding a $13.7m provision for import duties and an inventory provision of $3.4m, EPS would... 

Golar LNG Limited Rating Increased to Buy at ABG Sundal Collier (GLNG)

Golar LNG Limited (NASDAQ: GLNG) was upgraded by equities research analysts at ABG Sundal Collier from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $45.00 price target on the stock, up from their previous price target of $40.00. The analysts wrote, “The company is optimistic about future prospects, thus it has raised dividends and has declared a share buy-back program to support this view. We agree and... 

Maxim Group Upgrades Renren to Hold (RENN)

Renren (NASDAQ: RENN) was upgraded by equities research analysts at Maxim Group from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday. The analysts wrote, “RENN’s share price declined more than 20% since the company reported its 1Q12 results, mainly due to the weak performance of its arguable U.S. counterpart, Facebook (FB, $28.15, NR). At current levels, RENN is trading closer to its cash and book value at the end of March... 

Canaccord Genuity Upgrades Coinstar to Buy (CSTR)

Coinstar (NASDAQ: CSTR) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The analysts wrote, “We are upgrading our rating… based on modest upward revisions to our estimates reflecting continued marketshare gains in physical DVD, improved Coin comps and better clarity on opportunities within CSTR’s New Venture businesses. …We have updated our estimates to better reflect... 

JPMorgan Chase Upgrades Synchronoss Technologies to Overweight (SNCR)

Synchronoss Technologies (NASDAQ: SNCR) was upgraded by equities researchers at JPMorgan Chase (NYSE: JPM) from a “neutral” rating to an “overweight” rating in a report issued on Thursday. The analysts wrote, “We are upgrading SNCR to OW from N based on valuation. SNCR shares have pulled back 39% since 1Q12 earnings where management talked about AT&T 6th channel reducing volumes. We think the $9M reduction is now priced in and at 1.6x EV/Sales, 13x earnings and... 

JPMorgan Chase Raises OmniVision Technologies to Overweight (OVTI)

OmniVision Technologies (NASDAQ: OVTI) was upgraded by equities researchers at JPMorgan Chase (NYSE: JPM) from a “neutral” rating to an “overweight” rating in a report issued on Thursday. The analysts wrote, “With OVTI down 17.5% in May (S&P 500 down 6.1%), we think riskreward is tilting favorable and we are becoming more constructive regarding OmniVision’s prospect of winning back the high-resolution CIS slot opportunity on the next-generation... 

TD Securities Raises Methanex Corporation to Buy (MEOH)

Methanex Corporation (NASDAQ: MEOH) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The analysts noted that the move was a valuation call. Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Methanex Corporation from an “outperform” rating to a “neutral” rating in a research note... 

Zacks Gives Neutral Rating to Energy Transfer (ETP)

Energy Transfer (NYSE: ETP)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday. They currently have a $47.00 price target on the stock. Zacks’ analyst wrote, “Energy Transfer Partners remains a premier MLP with strategically-positioned assets that serve major North American natural gas-producing basins. We like the partnership’s robust organic growth profile, stable fee-based operating income and strong liquidity... 

Morgan Stanley Sets Perfect World Co Ltd Price Target at $16.70 (PWRD)

Equities research analysts at Morgan Stanley (NYSE: MS) decreased their price target on shares of Perfect World Co Ltd (NASDAQ: PWRD) from $18.40 to $16.70 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock. The analysts wrote, “Despite a softer 2Q outlook, we believe Perfect World offers deep value, as it trades at only ~4x 2012e P/E, with net cash (post dividend) accounting for 55-60% of its market value. The stock... 

Zacks Gives Neutral Rating to Companhia Brasileira de Distribuicao (CBD)

Companhia Brasileira de Distribuicao (NYSE: CBD)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Wednesday. They currently have a $42.00 price target on the stock. Zacks’ analyst wrote, “Companhia Brasileira de Distribuicao or P o de A car’s first quarter 2012 earnings of 64 Brazilian real cents (36 cents) per share lagged the Zacks Consensus estimate of 41 cents. However, it climbed from year ago results on the back of top line... 

Canaccord Genuity Upgrades Monsanto to Buy (MON)

Monsanto (NYSE: MON) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Wednesday. The analysts wrote, “We are upgrading the shares of Monsanto to BUY from Hold previously, and increasing our target price to US$89.00 from US$81.00 following the company’s announcement of increased F12 and Q3/F12 EPS guidance. Although we previously viewed Monsanto as a solid long-term company but one that looked... 

JPMorgan Chase Boosts Price Target on Intuitive Surgical (ISRG)

Investment analysts at JPMorgan Chase (NYSE: JPM) lifted their target price on shares of Intuitive Surgical (NASDAQ: ISRG) to $570.00 in a note issued to investors on Wednesday. The analysts wrote, “We recently surveyed general surgeons (n=28) to gauge interest in the use of da Vinci for new indications, beyond the early successful foothold in prostatectomy and hysterectomy. The results were more positive than we had anticipated, and point to the likely rapid and significant conversion... 

Desjardins Cuts Price Target on Short Smallcap600 (SBB)

Investment analysts at Desjardins dropped their target price on shares of Short Smallcap600 (NYSE: SBB) from $8.00 to $6.75 in a note issued to investors on Wednesday. The firm currently has a “positive” rating on the stock. The analysts wrote, “The Back River PEA emphasizes the importance of the higher grades and continuity of the deposits on the Back River property. We believe that the project remains highly prospective for new discoveries of similar, if not better, grade, which... 

Deutsche Bank Boosts Price Target on The Fresh Market (TFM)

Investment analysts at Deutsche Bank (NYSE: DB) raised their target price on shares of The Fresh Market (NYSE: TFM) from $45.00 to $49.00 in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the stock. The analysts wrote, “TFM printed a solid 1Q beat & FY12 guidance Raise, which they really needed to support a 37x P/E multiple, in our view. The strength/quality was broad-based. To this end, the +8.2% comp was the best in years and was led by... 

Wunderlich Cuts Price Target on DirecTV (DTV)

Equities researchers at Wunderlich cut their target price on shares of DirecTV (NYSE: DTV) to $56.00 in a report issued on Wednesday. The analysts wrote, “We are lowering our price target on Buy-rated DirecTV (DTV) to $56 from $60 off the deteriorating Brazilian reais exchange rate and a lower 60,000 (vs. prior 65,000) bogey for the Bovespa index used in our market-linked valuation. Brazil remains particularly exposed to any China-induced LT commodity price sell-off with the bearish argument... 

Bone Test inspired by Astronaut Could Help Diagnosis

A urine test might soon reveal more about the bones of a person than X-rays, say researchers from the U.S. A new study was paid for by NASA, because of bone loss experienced by astronauts while in space. The new test could help them while in space to cope with the bone loss, but could also have implications for those who suffer from cancers or osteoporosis. At this time that are not many good ways of detecting bone loss prior to there being a good amount of bone loss suffered by the person. The technique... 
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