Analyst Ratings

BlackBerry Shares Sell-Off 4+% Following Bernstein Downgrade

Paul Quintaro — Wed, 19 Jun 2013 20:40:19 +0000

Analyst Pierre Ferragu of Bernstein downgraded Blackberry (NASDAQ: BBRY) from Market Perform to Underperform Wednesday morning. Ferragu cut his price target from $15 to $10, saying Blackberry is set to ...

BTIG Says Sprint Will Likely Fall Below $7/Share as Offers from Softbank, Dish Disappear

Paul Quintaro — Wed, 19 Jun 2013 18:40:48 +0000

BTIG's Walter Piecyk believes Sprint (NYSE: S) shares could move below $7 as the chances for a higher bid from Softbank or Dish (NASDAQ: DISH) begin to evaporate.

Piecyk ...

An ETF For Quality Connoisseurs

ETF Professor — Wed, 19 Jun 2013 18:20:51 +0000

Few investors intentionally look for ETFs that hold a plethora of stinky stocks, but it is reasonable to say nearly all investors that use ETFs want funds that are backed by strong holdings. Makes sense. After all, it is an equity-based ETF's underlying holdings that are the ultimate determinants of the fund's performance.

Investors looking to dodge volatility while gaining exposure to a lineup chock full of high-quality names have no shortage of options among ETFs. One fund to consider is the unheralded PowerShares S&P 500 High Quality Portfolio (NYSE: SPHQ).

"According to Sam Stovall, S&P Capital IQ Chief Investment Strategist, in 2013's 97 trading days through May 21, the S&P 500 rose or fell by 1% or more on a closing basis 10 times," said S&P Capital IQ in a new research note.

"Since then, in only 17 trading days through 6/14, the market chalked up 11 such days. Stovall notes that "volatility is a fact of life when investing in equities" as since 1960, the S&P 500 fell by 1% or more in a single day (one day's close versus the next day's close) an average 26 times per year, yet rose an average 28 times per year. But by holding a basket of stocks that have consistent earnings and dividend records, investors ...

BofA Lowers Target on Cognizant to $77 on Legislative Uncertainty

Paul Quintaro — Wed, 19 Jun 2013 16:07:52 +0000

Bank of America lowered its price target on Cognizant Technology Solutions (NASDAQ: CTSH) from $90 to $77 in a research note from Wednesday morning.

Analyst Sara Gubins attributed the reduced target to uncertainty surrounding the immigration reform legislature currently ...

UPDATE: Piper Jaffray Lowers PT on FactSet Research Systems Following In-Line F3Q Results

Dwight Einhorn — Wed, 19 Jun 2013 16:06:21 +0000

In a report published Wednesday, Piper Jaffray analyst Peter P. Appert reiterated an Overweight rating on FactSet Research Systems (NYSE: FDS), but lowered the price target from $121.00 to $119.00.

In ...

UPDATE: Goldman Sachs Announces Neutral Rating on Covidien to Reflect New MNK Spin Off

Ari Crane — Wed, 19 Jun 2013 16:04:20 +0000

In a report published on Wednesday, Goldman Sachs analyst David H. Roman suspended its prior rating and price target on Covidien (NYSE: COV) and announced a new price target of $64 and a Neutral rating on the "new" Covidien which excludes the Mallinckrodt department.

In the report, Goldman Sachs commented that, "Based on ...

UPDATE: Piper Jaffray Raises PT on Body Central Following Hosted Management Discussion

Dwight Einhorn — Wed, 19 Jun 2013 15:58:03 +0000

In a report published Wednesday, Piper Jaffray analyst Stephanie S. Wissink reiterated a Neutral rating on Body Central (NASDAQ: BODY), and raised the price target from $9.00 to $11.00.

In the report, Piper Jaffray noted, “Following our hosted discussion with BODY management at our conference last week, we are revisiting our model, specifically related to expectations for Q2. ...

BMO Says Pfizer, Zoetis Exchange Offer Looking More Attractive, Sees Bid at High End of Ratio

Paul Quintaro — Wed, 19 Jun 2013 15:56:40 +0000

With traders waiting on the ratio for the Pfizer (NYSE: PFE) and Zoetis (NYSE: ZTS) exchange offer (expected for after the close Wednesday), BMO's Alex Arfaei is commenting.

The analyst beileves the offer will ...

UPDATE: Barrington Research Raises PT on Gannett Following Acquisition

Dwight Einhorn — Wed, 19 Jun 2013 15:55:57 +0000

In a report published Wednesday, Barrington Research analyst James C. Goss reiterated an Outperform rating on Gannett (NYSE: GCI), and raised the price target from $25.00 to $31.00.

In the report, Barrington Research noted, “Acquisition transforms the mix of the company's operations with favorable implications for the valuation multiple. Prior to the ...

UPDATE: Sterne Agee Raises PT on DreamWorks Animation SKG Following New TV Revenue

Dwight Einhorn — Wed, 19 Jun 2013 15:54:19 +0000

In a report published Wednesday, Sterne Agee analyst Vasily Karasyov reiterated an Underperform rating on DreamWorks Animation SKG (NASDAQ: DWA), and raised the price target from $18.00 to $21.50.

In the report, Sterne Agee noted, “DWA provided guidance ...

UPDATE: Bank of America Raises PO on Bloomin' Brands as 'Outback Is Well-Positioned'

Ari Crane — Wed, 19 Jun 2013 15:53:26 +0000

In a report published on Wednesday, Bank of America analyst Joseph T. Buckley raised the price objective on Bloomin' Brands (NASDAQ: BLMN) from $25 to $29 and maintained a Buy rating on the company.

In the report, Bank of America commented that, "Outback has performed well driven by stronger brand positioning, benefits ...

Stifel Sees Credibility to Report of Unrealized Value in Sotheby's Real Estate

Paul Quintaro — Wed, 19 Jun 2013 15:46:11 +0000

Stifel analyst David Schick, addressing an earlier New York Post release, called the rumor Sotheby's (NYSE: BID) may sell its NYC headquarters credible.

Schick said the potential sale alludes to ...

Macquarie Downgrades Sprint to Neutral On the Heels of Dish Lapsed Bid

Paul Quintaro — Wed, 19 Jun 2013 15:29:28 +0000

Sprint (NYSE: S) shares opened at $7.08 Wednesday morning, down over 3 percent from Tuesday's close, as investors in the name are responding to news DISH (NASDAQ: DISH) let Sprint's bid deadline pass.

Macquarie's Kevin Smithen reacted to the news this morning, downgrading Sprint from Outperform to Neutral and lowering his ...

UPDATE: Canaccord Genuity Raises PT on NuVasive on Multiple Positive Factors

Dwight Einhorn — Wed, 19 Jun 2013 15:11:49 +0000

In a report published Wednesday, Canaccord Genuity analyst William J. Plovanic reiterated a Buy rating on NuVasive (NASDAQ: NUVA), and raised the price target from $24.50 to $29.00.

In the report, Canaccord Genuity noted, “We reiterate our BUY rating and are ...

UPDATE: Bank of America Lowers PO on Alkermes on Reduced Bydureon Forecast

Ari Crane — Wed, 19 Jun 2013 15:10:24 +0000

In a report published on Wednesday, Bank of America analyst Steve Byrne lowered the price objective on Alkermes (NASDAQ: ALKS) from $29 to $27 and maintained an Underperform rating on the company.

In the report, Bank of America commented that, "We ...