Investment Analysts’ Ratings Reiterations for October, 7th (AKAM, BLND, CCL, CTIC, DNDN, DV, HMSO, INTC, LAND, PX)
Akamai Technologies (NASDAQ:AKAM) had its outperform rating reissued by analysts at Zacks. Zacks currently has a $63.00 price target on the stock.
British Land (LON:BLND) had its hold rating reiterated by analysts at Deutsche Bank. The firm currently has a GBX 520 ($8.34) price target on the stock.
Carnival Corp. (NYSE:CCL) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $34.00 price target on the stock. Zacks’ analyst wrote, “Carnival’s third-quarter fiscal 2013 adjusted earnings of $1.38 per share beat the Zacks Consensus Estimate by 6.2% but were 9.8% lower than the year-ago quarter earnings due to margin shortfall. Total revenue in the quarter inched up 0.9%, beating the Zacks Consensus Estimate by 1.9%. Penetration into the high-potential Asian and Australian markets, several marketing initiatives to fix operational issues and reduction in fuel consumption position it well for the long term. However, an overall muted guidance for revenue yield, cruise costs and earnings for fiscal 2013 is a concern. A sluggish European economy and lower consumer confidence in both North America and Europe threaten bookings. Moreover, higher operating costs owing to increased marketing spend remain a major threat to margin expansion. System-wide operating scenario is not expected to improve before the second half of 2014. Thus, we maintain our Neutral recommendation on the stock.”
Cell Therapeutics (NASDAQ:CTIC) had its positive rating reissued by analysts at Wells Fargo & Co..
Dendreon Corp. (NASDAQ:DNDN) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $3.00 price target on the stock. Zacks’ analyst wrote, “Dendreon’s second-quarter 2013 loss of $0.41 per share was narrower than the year-ago loss of $0.59 and the Zacks Consensus Estimate of a loss of $0.43 per share. The company’s second quarter sales were disappointing, declining around 8.3% to $73.3 million. We are disappointed with Provenge sales in the first half of the year. Moreover, management’s statement at the second quarter conference call that the company’s 2013 Provenge sales will not be able to beat the 2012 sales figure is also concerning. We are apprehensive about Dendreon’s high dependence on Provenge for growth. We expect investor focus to remain on Provenge’s performance. We maintain our Neutral recommendation on the stock. Our target price is $3.00.”
DeVry (NYSE:DV) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $32.00 target price on the stock. Zacks’ analyst wrote, “DeVry reported mixed fourth-quarter fiscal 2013 results wherein the company beat earnings but delivered in-line revenues as the flagship DeVry University continues to struggle. Moreover, management expects the weak enrollment trends and revenue decline at DeVry University to outweigh further cost savings and growth in other institutions in fiscal 2014. Despite the near-term sluggishness, we believe the company has long-term value. Its diversified portfolio of programs, regular strategic acquisitions and a debt-free balance sheet give it a competitive advantage. The company is also seeing continued strength in its health care and international businesses. The performance improvement plan to align costs, regain enrollment growth and make growth investments look impressive. We, however, prefer to remain Neutral on the stock until we see improving enrollment trends at DeVry University. The continued challenged regulatory environment remains a persistent overhang.”
Hammerson (LON:HMSO) had its hold rating reiterated by analysts at Deutsche Bank. Deutsche Bank currently has a GBX 450 ($7.22) target price on the stock.
Intel Corp. (NASDAQ:INTC) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $24.00 price target on the stock. Zacks’ analyst wrote, “Intel is one of the leading producers of microprocessors in the world. The company’s second-quarter earnings missed the Zacks Consensus Estimate by a penny. The below-seasonal revenue guide for the next quarter and flat revenue for the year indicates a very strong fourth quarter. Intel’s promise of success in the mobile segment is encouraging, although this is likely to be mitigated by conservative spending by individuals and corporations, as well as competition from ARM-based devices. The silver lining is its strength in the server and software segments. We therefore have a Neutral recommendation on the shares.”
Land Securities Group (LON:LAND) had its sell rating reissued by analysts at Deutsche Bank. Deutsche Bank currently has a GBX 750 ($12.03) price target on the stock.
Praxair (NYSE:PX) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $127.00 price target on the stock. Zacks’ analyst wrote, “Praxair is among the leading industrial gas producers worldwide due to growing preferences among customers for the company’s world class technology, high quality products and gas supply services. The company’s intense focus on continuous expansion of its operating regions and addition of new customers to its existing sphere of businesses will help accelerate profit growth in the future. For 2013, strong growth is anticipated from chemicals, energy and emerging markets. However, accounting for the dilution due to pension settlement charge expected in the third quarter 2013, management reduced the high-end of its earnings guidance by $0.05. Sales guidance has been kept constant at $12 billion. Projects included in backlog are likely to start from this year through 2016. The company’s policy of returning values to shareholders through dividends, share buybacks, strategic acquisitions, joint ventures and long-term contracts are likely to bode well. Anticipating lack of share driving catalysts, we have maintained a Neutral recommendation on Praxair.”
R.R. Donnelley & Sons Co. (NYSE:RRD) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $17.00 target price on the stock.
Rexnord Corp (NYSE:RXN) had its outperform rating reiterated by analysts at Zacks. Zacks currently has a $25.00 price target on the stock. Zacks’ analyst wrote, “Rexnord seems well positioned to grow its Process & Motion Control and Water Management platforms by leveraging benefits from the increasing backlog in the non-residential construction market in U.S. and Canada, growing demand for clean water and rising demand in the aerospace industry. Also, recently acquired assets of Micro Precision Gear and LWG Specialised Plumbing Products are expected to boost Rexnord’s business in the civil aerospace industry and expand its Zurn brand products sales in Australia, respectively. Talking of results in the fiscal first quarter 2014, core sales growth was driven by diversified product portfolio, improving demands, and benefits derived from growth initiatives undertaken. For fiscal 2014, core sales growth guidance has been raised to 2%-4% while the lower end of the earnings guidance has been raised by $0.02 to $1.12-$1.18. Moreover, refinancing of term debts will have positive impact on free cash flow and earnings. Considering the above, we initiate our coverage on Rexnord with an Outperform recommendation.”
Segro (LON:SGRO) had its sell rating reissued by analysts at Deutsche Bank. They currently have a GBX 220 ($3.53) target price on the stock.
Tech Data Corp. (NASDAQ:TECD) had its neutral rating reiterated by analysts at Zacks. They currently have a $53.00 target price on the stock. Zacks’ analyst wrote, “Tech Data is set to restate majority of its financials for the last three fiscal years. Due to this reason, the company did not file 2013 10K. The company also did not release first and second quarter results and refrained from filing related 10Qs for both the periods. We believe that the uncertainty related to the completion time of the restatement process will remain a major overhang on the stock in the near term. Additionally, declining PC shipments are expected to hurt the company’s top-line growth in fiscal 2014. Moreover, sluggish IT spending is also expected to hurt top-line growth. Nevertheless, we believe that Tech Data’s strategy of shifting resources from lower-performing regions to higher-growth regions, cost reductions, accretive acquisitions and partnerships will drive growth going forward. We maintain our Neutral recommendation and set a price target of $53.00.”
Williams Companies (NYSE:WMB) had its neutral rating reiterated by analysts at Zacks. They currently have a $38.00 price target on the stock. Zacks’ analyst wrote, “Williams Companies should be able to generate highly visible cash flow and dividend growth over the next several years through strong operational performances by its business units. With Williams now freed from the capital constraints of a typical E&P firm, the company’s exposure to a bullish NGL processing market and a deep inventory of growth projects is set to unlock significant shareholder value. However, we remain worried about volatile natural gas prices, which are likely to restrict near-term growth prospects at Williams. This compels us to maintain our Neutral recommendation on the company’s shares. We also believe that upside potential will remain limited until this North American pure play energy infrastructure company has fully reaped the benefits of the spin-off.”
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