Apple (NASDAQ:AAPL) had its sell rating reissued by analysts at ABG Sundal Collier. The firm currently has a $400.00 target price on the stock. The analysts wrote, “In reaction to the fourth quarter results, we are likely to modestly lift sales and earnings estimates for the quarters immediately ahead. The combined effects of the reduction in the number of outstanding shares and use of cash should have no material influence on our valuation assessment. To us, Apple no longer deserves a rich multiple for the simple reason that its sales growth is pedestrian, its net income falls and its reliance on two sensationally popular products – the iPhone and the iPad – is exceedingly high. As all forms of consumer electronics, points of saturation will eventually transpire. Given the rise in competitive pressures, Apple encounters serious dilemmas. Unless it slashes its price levels – at the expense of profitability – it will continue to cede market share to rivals. Hopes that an ‘iTV’ and an ‘iWatch’ can ‘move the needle’ should dissipate considering the revenues to protect.”
Apple (NASDAQ:AAPL) had its overweight rating reaffirmed by analysts at Piper Jaffray Cos.. Piper Jaffray Cos. currently has a $640.00 price target on the stock. The analysts wrote, “Results were largely as expected given the late quarter guidance update post the iPhone 5S launch. More importantly, the company guided Dec-13 revenue to $55-58 billion and gross margins to the midpoint of 37.5% excluding the unexpected change in deferred revenue policy. The revenue mid-point was ahead of our expectation and the adjusted gross margin was in-line. The overall trends in the business have stabilized, and we expect earnings to be essentially flat y/y in Dec-13 and up 8% in Mar-14, marking the first earnings growth quarter in 5 quarters. We are modeling revenue growth to go from 5% in CY13 to 8% in CY14, and EPS growth to go from down 10% to up 15%. Our model does not reflect new product categories (likely TV & Watch) that were hinted to again on the earnings call. Reiterate $640 price target.”
AbbVie (NASDAQ:ABBV) had its buy rating reissued by analysts at Jefferies Group. The firm currently has a $55.00 target price on the stock.
Cairn Energy (LON:CNE) had its outperform rating reaffirmed by analysts at Davy Research.
CRA International (NASDAQ:CRAI) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $21.00 price target on the stock. Zacks’ analyst wrote, “CRA International posted strong third quarter 2013 results aided by a year-over-year increase in earnings. During the reported quarter the company benefited from broad-based demand and positive contributions from nearly all practice areas. Moreover, the company’s Litigation & Regulatory business delivered healthy performance during the reported quarter. Additionally, the company’s growth initiatives and healthy cash balance augur well for the long term. Going forward, the company aims to achieve profitable growth both organically and through strategic hires. However, we remain concerned about the ongoing cautious spending by clients, stiff competition and currency fluctuations. Consequently we maintain our long-term Neutral recommendation as we expect the stock to perform in-line with the broader market.”
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) had its outperform rating reaffirmed by analysts at Oppenheimer. They currently have a $100.00 price target on the stock, up from their previous price target of $88.00. The analysts wrote, “Ahead of 3Q13 results, we reiterate our Outperform rating and raise our price target to $100 (from $88). Industry trends, and demand commentary, appear solid as evidenced by quarterly results from offshore peers (e.g., TCS, INFY, WIT), which bode well for CTSH. We believe CTSH’s 3Q revenue guidance and its implied 4Q13 growth guide could prove conservative. We also remain optimistic regarding its growth prospects into FY14, and see very limited chance of comprehensive immigration reform (including onerous offshore provisions) passing within this congressional cycle.”
Dragon Oil plc (LON:DGO) had its outperform rating reaffirmed by analysts at Davy Research.
Dow Chemical (NYSE:DOW) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $41.00 price target on the stock.
Darden Restaurants (NYSE:DRI) had its equal weight rating reiterated by analysts at Morgan Stanley. They currently have a $50.00 target price on the stock. The analysts wrote, “Spinning off growth brands and real estate monetization could create up to ~$12 in value, in our view, though does not solve the underlying fundamental issues at DRI. Of the two, we see more strategic value in the spin off, but further cost and capex cutting remain the best near term options.”
Edwards Lifesciences Corp. (NYSE:EW) had its hold rating reaffirmed by analysts at RBC Capital. RBC Capital currently has a $75.00 target price on the stock.
FirstEnergy Corp. (NYSE:FE) had its neutral rating reissued by analysts at Zacks. They currently have a $40.00 target price on the stock. Zacks’ analyst wrote, “We retain our Neutral recommendation on FirstEnergy Corp. The company’s focus on development of transmission projects will boost its operations and help meet the rising power needs of its customers. Consistent customer expansion as well as efforts to strengthen its sales and marketing operations will further fetch sizeable returns. In addition, disciplined capital spending and gradual divestment of non-core hydro assets are in sync with the company’s broad growth objectives. In addition, FirstEnergy’s string of asset modernization investments will lead to better service reliability which will contribute to customer retention. However, FirstEnergy needs to watch out for risks related to stringent environment legislation and weather fluctuations. “
Integra LifeSciences Holdings Corp. (NASDAQ:IART) had its buy rating reiterated by analysts at Jefferies Group. Jefferies Group currently has a $54.00 target price on the stock, up from their previous target price of $46.00.
Jones Lang LaSalle (NYSE:JLL) had its underperform rating reaffirmed by analysts at Zacks. They currently have a $77.00 price target on the stock. Zacks’ analyst wrote, “Aided by growth in revenues, Jones Lang’s third-quarter 2013 adjusted earnings per share came in well ahead of the Zacks Consensus Estimate. Quarterly results benefited from decent increase in fee revenues, driven by Capital Markets & Hotels and Property & Facility Management as well as strong leasing performance. However, we note that though the economic conditions are improving, transaction volumes are yet to reach the pre-recession peak levels. Also, the cautious attitude of investors is limiting demand for opportunistic or speculative products. Structural and political issues have reduced the pace of the robust development in certain Asian economies and the slowdown in Brazil continues. Moreover, a healthy level of confidence is yet to return in the European market. Along with this, the cut-throat competitive environment remains plausible concern.”
Michael Kors Holdings (NASDAQ:KORS) had its outperform rating reiterated by analysts at Wedbush. Wedbush currently has a $80.00 target price on the stock.
Lloyds Banking Group PLC (LON:LLOY) had its overweight rating reaffirmed by analysts at Barclays. Barclays currently has a GBX 85 ($1.38) price target on the stock.
MDC Partners (NASDAQ:MDCA) had its buy rating reissued by analysts at UBS AG. The firm currently has a $34.00 target price on the stock.
Merck & Co (NYSE:MRK) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $48.00 target price on the stock. Zacks’ analyst wrote, “Merck posted third quarter 2013 earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.88. Earnings, however, declined 3.2% from the year-ago period. Revenues for the quarter fell 4% to $11,032 million, missing the Zacks Consensus Estimate of $11,111 million. Revenues were hit by the genericization of Singulair and a few other products and negative currency fluctuation. The decline in Januvia sales is a matter of concern. Apart from generic competition, headwinds remain in the form of unfavorable currency movement and pipeline setbacks. We believe the company will look towards cost-cutting initiatives and share buybacks to drive the bottom-line. We remain Neutral on the stock.”
Procter & Gamble Co. (NYSE:PG) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $85.00 price target on the stock. Zacks’ analyst wrote, “Despite significant currency headwinds, P&G reported decent fiscal first-quarter 2014 results meeting the Zacks Consensus Estimate for earnings and beating the same for sales. While volume performance was decent, margins were once again weak in the quarter. The consumer giant also maintained its financial outlook for fiscal 2014. Overall, we are encouraged by P&G’s strong brand recognition, diversified portfolio, rapid growth in developing nations, impressive product development capabilities and marketing prowess. The new strategic plan to drive growth through accelerated cost savings, improved operating discipline, investments in promising innovation and focus on most profitable businesses sounds encouraging. However, we prefer to wait until the plan drives substantial organic revenue growth. Moreover, challenging consumer spending environment in the U.S. and volatile market dynamics in other countries remain overhangs.”
PMC-Sierra (NASDAQ:PMCS) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $7.00 target price on the stock. Zacks’ analyst wrote, “Internet infrastructure semiconductor solutions provider, PMC-Sierra’s third-quarter earnings missed the Zacks Consensus Estimate due to economic softness and slower-than-expected carrier spending, partially offset by solid expense management. While improvement in the Storage and Mobile market segments as well as introduction of several major new products were quite encouraging, softness in the Optical segment and weak carrier spending remains a matter of concern. We also believe that lack of visibility and macro uncertainty could keep the share price range bound. We are therefore reiterating our Neutral rating on the company’s shares.”
Peregrine Semiconductor Corp. (NASDAQ:PSMI) had its market perform rating reissued by analysts at Oppenheimer. The analysts wrote, “PSMI reported 3Q revenue/EPS of $60.0M/$0.17 vs. consensus $60.3M/$0.12. 4Q guidance, however, of $45M (-25% Q/Q) falls markedly below consensus $55.1M. Just four weeks ago our $59M December estimate had been Street-low. The loss of the primary antenna switch in iPhone 5S/5C (~50% lower content Y/Y at AAPL) is the primary driver of the miss. Absent a full product suite to solve architectural RF challenges in wireless, we believe PSMI has become increasingly locked into the amplified socket design cadences at AAPL/Samsung. Antenna tuning and LTE-A switching could/should drive 2014 designs, but we continue to wait for integrated RF execution to bear fruit. We are significantly reducing estimates. Maintain Perform.”
Riverbed Technology (NASDAQ:RVBD) had its buy rating reissued by analysts at Lazard Capital Markets. They currently have a $20.00 price target on the stock, down from their previous price target of $21.00.
Shaw Communications (NYSE:SJR) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $25.00 price target on the stock. Zacks’ analyst wrote, “We reaffirm our long-term Neutral recommendation on Shaw Communications based on the mixed financial results for the fourth quarter of fiscal 2013. While total revenue surpassed the Zacks Consensus Estimate, net income fell below the same. Meanwhile, the company continues to improve EBITDA margin and free cash flow due to discontinued promotional activities. The losses of video and DTH subscribers were partially offset by a gain in high-speed Internet and telephony subscribers. Near-term catalysts include the expansion of Shaw Go Wi-Fi networks, more applications supporting the Shaw Global Go TVEverywhere service and the launch of Anik G1 satellite, which enables the company to add over 140 channels for the Shaw Direct service. The board of directors is considering a proposal to raise the dividend rate by 5% -10% over the next 2 years. We believe that the stock is currently fairly valued. “
Synchronoss Technologies (NASDAQ:SNCR) had its outperform rating reiterated by analysts at Wedbush. They currently have a $45.00 target price on the stock.
Stericycle (NASDAQ:SRCL) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $122.00 target price on the stock. Zacks’ analyst wrote, “Stericycle reported strong third quarter 2013 results with decent year over year increase in earnings and revenues. The company is witnessing strong growth worldwide, driven by new account acquisitions and expansion of its portfolio of service offerings. Its acquisition pipeline remains robust across various geographies and lines of business. However, the recent spate in acquisitions is leading to higher overheads and integration-related costs, which could have an adverse impact on operating margins in future. Nevertheless, we maintain our Neutral recommendation on the stock as we anticipate it to perform in line with the broader market.”
Tenneco (NYSE:TEN) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $57.00 price target on the stock. Zacks’ analyst wrote, “Tenneco reported adjusted earnings per share of 99 cents in the third quarter of 2013, surpassing the Zacks Consensus Estimate of 95 cents. Revenues increased 10% year on year to $1.96 billion, beating the Zacks Consensus Estimate of $1.95 billion. The increase in revenues was attributable to higher revenues from all operating segments. Tenneco is expected to benefit from tighter emission regulations through 2015. The company’s focus on maximizing the efficiencies in the manufacturing processes should have favorable impact in the long run. However, high customer concentration poses threat to the company. Furthermore, Tenneco faces relatively weak demand in the high-margin aftermarket parts business. As such, we maintain our Neutral recommendation.”
Terex Corp. (NYSE:TEX) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $37.00 target price on the stock. Zacks’ analyst wrote, “We maintain our Neutral recommendation on Terex with a target price of $37. Terex’s adjusted earnings in the third-quarter 2013 grew 24% year over year to $0.77 per share, due to reduced interest expense and a lower effective tax rate. However, revenues declined 0.6% year over year to $1.81 billion. Terex trimmed its 2013 earnings per share forecast to $1.90-$2.10 and lowered sales guidance to $7.3 billion-$7.5 billion Terex will realize benefits starting in 2014, from its substantive actions undertaken in the third quarter to further adjust the cost structure of the MHPS, and Cranes and Construction segments. In the near term, strong backlog in the MHPS segment will aid results. “
Tullow Oil (LON:TLW) had its outperform rating reaffirmed by analysts at Davy Research.
Tesla Motors (NASDAQ:TSLA) had its outperform rating reissued by analysts at Zacks. The firm currently has a $195.00 target price on the stock. Zacks’ analyst wrote, “We initiate our coverage on Tesla Motors with an Outperform recommendation. The company incurred a loss of $30.5 million or $0.26 per share in the second quarter, narrower than a loss of $105.6 million or $1.00 in the year-ago quarter. Adjusted earnings were $0.05 per share in the quarter, beating the Zacks Consensus Estimate of a loss of $0.36. Revenues increased manifold year over year to $405.1 million in the quarter, also ahead of the Zacks Consensus Estimate of $395 million. Tesla has clinched a substantial share of the electrical cars market and is witnessing rising sales banking on an impressive product portfolio. Although the company is yet to generate sustainable profits, it is well placed to gain from product launches and international expansion. “
Vertex Pharmaceuticals (NASDAQ:VRTX) had its outperform rating reiterated by analysts at Wells Fargo & Co..
Weyerhaeuser (NYSE:WY) had its neutral rating reissued by analysts at Zacks. Zacks currently has a $33.00 price target on the stock. Zacks’ analyst wrote, “Weyerhaeuser reported an impressive result for the third quarter 2013. Earnings per share came in at $0.27, up 23% year over year and 29% above the Zacks Consensus Estimate. Revenue grew 23% on the back of healthy performance in the segments. The acquired assets of Longview Timber LLC have increased the company’s overall timberland portfolio and are likely to provide synergies and more funds for distribution. Also, the increase of 10% in quarterly dividend rate signifies the company’s healthy balance sheet and strong cash position. The company is also searching for a suitable option for WRECO. For 2013, management anticipates export demand to grow while housing market recovery is also likely to play a key role in the U.S. Earnings from disposition of non-strategic timberlands and from the Wood Products segment is expected to decline. Further, risks arising from stiff competition, adverse currency translation and geopolitical issues cannot be completely ignored. Considering all these, we maintain our Neutral recommendation.”
Zimmer Holdings (NYSE:ZMH) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $93.00 target price on the stock. Zacks’ analyst wrote, “Zimmer’s third quarter 2013 adjusted EPS of $1.25 surpassed the Zacks Consensus Estimate by $0.01. Beside, this was also up 8.7% year over year. Revenues were $1,074 million, up 6.7% at CER and ahead of the $1,063 million mark. This result was on the back of gradual stability in the global musculoskeletal market with decent sales growth in certain geographies. Higher volumes of new products and manufacturing processes improvements remained as a plus. However, pricing pressure continues to post a major threat. Currency headwind continues primarily affecting Japanese yen and Australian dollar denominated sales. Meanwhile, Zimmer is on its way to achieve market growth based on its strong product portfolio and ageing demographics. In order to streamline its business, The company also plans to continue with its global restructuring program. We maintain our Neutral’ recommendation on Zimmer.”
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