Stock Analysts’ Ratings Reiterations for October, 9th (AAPL, AXLL, BBRY, BJRI, FLR, GS, HCSG, JCP, JEC, JPM)
Apple (NASDAQ:AAPL) had its overweight rating reiterated by analysts at Piper Jaffray Cos.. The analysts wrote, “Our most recent semi-annual Teen survey demonstrates that Apple remains the most popular tech brand amongst teens. As of Fall 2013, the iPhone represented nearly 55% all phones used by teens and the iPad family remained at close to 70% share of tablet ownership. We believe that while Samsung seemingly had some momentum with teens over the past year, Apple’s brand and product quality has enabled it to remain the top choice for teen consumer electronics. We reiterate our Overweight rating and $640 price target.”
Apple (NASDAQ:AAPL) had its positive rating reissued by analysts at Raymond James. The analysts wrote, “We maintain our Strong Buy rating on shares of AAPL based on our premise that the business has substantially more sustainability to it than investors appear to appreciate, and modestly more growth in the near term driven by new carriers, underappreciated promotional activity and the two-year anniversary of a strong iPhone 4S product cycle.”
Axiall Corp. (NASDAQ:AXLL) had its outperform rating reaffirmed by analysts at Wells Fargo & Co.. Wells Fargo & Co. currently has a $50.00 price target on the stock.
BlackBerry (NASDAQ:BBRY) had its underperform rating reiterated by analysts at FBR Capital Markets. The analysts wrote, “We expect shares of Blackberry to remain range-bound through the expiration of the tentative agreement with Fairfax. The company has recently published its F2Q14 6-K, offering positive updates that suggest the company may be on the right path to significantly reduce a portion of its on- and off-balance-sheet commitments. Supplier commitments have come down significantly over the three-month period, and a combination of reorganization efforts as well as an aggressive decline in its handset manufacturing capacities may leave BlackBerry closer to a cash flow neutral position (after restructuring) than many expect. As Fairfax’s November 4 deadline for a $9/share acquisition approaches and news of other potential buyers surfaces, we expect BBRY stock could prove resilient near the $8 level. However, we remain skeptical on the company’s ability to execute a turnaround of its device or service businesses, and we continue to believe that there are better investments in the smartphone ecosystem than BlackBerry.”
BJ’s Restaurants (NASDAQ:BJRI) had its hold rating reissued by analysts at Wunderlich. They currently have a $32.00 target price on the stock, down from their previous target price of $42.00. The analysts wrote, “We recently chatted with CFO Greg Levin following BJ’s (BJRI) recent investor presentation which, while including some encouraging insights to 2014′s plan, remains in the face of soft consumer spending, intense competition, and some self-inflicted new unit cannibalization. As a result, we are factoring more cautious assumptions within our 2013 projections, and believe our revised lower 2014 and 2015 projections could still vary materially. While management’s plan holds the promise to lift 2014 EPS growth following the past three years of relatively flat EPS, BJRI’s previous valuation metrics are likely to trend toward the lower end of historical ranges pending a sustained lift in operating trends. We are resetting our price target to $32 from $42 and reiterate our Hold rating.”
Fluor Corp. (NYSE:FLR) had its buy rating reissued by analysts at Stifel Nicolaus. Stifel Nicolaus currently has a $90.00 price target on the stock, up from their previous price target of $74.00. The analysts wrote, “We are increasing our target price for FLR stock from $74 to $90/sh. We value FLR stock based on EV/Backlog as well as P/E, P/B, EV/Rev., EV/EBITDA and P/Rev in comparison to prior cycles. Our $90 target price is the average of the 6 approaches and represents 29% upside potential.”
Goldman Sachs Group (NYSE:GS) had its buy rating reaffirmed by analysts at TheStreet. The analysts wrote, “Goldman Sachs Group (GS) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Healthcare Services Group (NASDAQ:HCSG) had its buy rating reiterated by analysts at Stifel Nicolaus. The firm currently has a $28.00 target price on the stock, up from their previous target price of $27.00. The analysts wrote, “Healthcare Services Group reported third quarter EPS of $0.20, matching our at-consensus estimate. Revenues topped our estimate, an important feature in the company’s recurring revenue operating model. Margins were lower than modeled due to the influx of new Dietary revenues, but we continue to expect margin improvement going forward. We maintain our Buy rating and our revised target price is $28.”
J.C. Penney Co. (NYSE:JCP) had its neutral rating reaffirmed by analysts at Goldman Sachs Group Inc..
Jacobs Engineering Group (NYSE:JEC) had its buy rating reiterated by analysts at Stifel Nicolaus. The firm currently has a $67.00 target price on the stock, up from their previous target price of $66.00. The analysts wrote, “We are increasing our target price for JEC stock from $66 to $67/sh. We value JEC stock based on EV/Backlog as well as P/E, P/B, EV/Rev., EV/EBITDA and P/Rev in comparison to prior cycles. Our $67 target price is the average of the 6 approaches and represents 19% upside.”
JPMorgan Chase & Co. (NYSE:JPM) had its buy rating reaffirmed by analysts at TheStreet. The analysts wrote, “JPMorgan Chase (JPM) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, compelling growth in net income, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Ritchie Bros. Auctioneers (NYSE:RBA) had its neutral rating reissued by analysts at Credit Suisse. They currently have a $18.00 target price on the stock, down from their previous target price of $20.00. The analysts wrote, “We expect RBA shares to come under pressure tomorrow on the announcement that the CEO is stepping down in 2014 and are cutting our estimates and valuation on choppy execution and growing pains associated with new leadership. Our 2013E EPS goes to $0.79 from $0.82 based on updated September gross auction proceeds (GAP) figures. Our 2014E EPS is $0.87. We are cutting our target to $18from $20. Our target is based on 21x normalized EPS of $0.95 discounted back. Our multiple is below what RBA shares have traded for historically given lack of GAP growth.”
Tourmaline Oil Corp (TSE:TOU) had its outperform rating reiterated by analysts at National Bank Financial. National Bank Financial currently has a C$52.50 target price on the stock.
Yum! Brands (NYSE:YUM) had its buy rating reaffirmed by analysts at Stifel Nicolaus. They currently have a $95.00 price target on the stock, down from their previous price target of $105.00. The analysts wrote, “Despite very bad news of September China comp trends of -11% (vs. consensus’ -6%E; our -3%E), we nevertheless believe that Buy-rated YUM shares represent an attractive value on this morning’s expected sub-$68 opening price given our unchanged view that YUM’s YRI/US divisions alone are worth at least $44/sh (or at least a BKW 2014E P/E of about 21X). If so, this morning’s implied price for YUM’s China/India divisions is less than $24/sh – or at a 2014E P/E of about 15X our new ‘further depressed’ 2014E EPS contribution of $1.55 (or at about the average P/E for a US company-owned casual-dining company (BLMN/DRI).”
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