Stock Analysts’ Ratings Reiterations for October, 11th (ABBV, CB, FB, GOOG, HAWK, LXRX, MFC, PWR, TSS, WAT)
AbbVie (NASDAQ:ABBV) had its buy rating reissued by analysts at Jefferies Group.
Chubb Corp. (NYSE:CB) had its outperform rating reiterated by analysts at Zacks. Zacks currently has a $107.00 target price on the stock. Zacks’ analyst wrote, “Chubb Corp. has shown favorable underwriting results over past many quarters. We ecpect the trend to continue given its superior franchise and a significant presence in its niche market. Chubb’s Commercial insurance segment has been consistently reporting favorable earnings results. The segment has been witnessing low-single-digits increase in average renewal rates for the past several quarters. The retention ratio stands at a stable level. Chubb’s Personal Insurance segment is also witnessing a gradual market improvement. Chubb’s international business has been performing strongly and is key to its future growth. Strong capital management witnessed by regular share repurchases and a continuous dividend increase for the past several years makes the stock a favorite among investors. We thus maintain an Outperform recommendation on the stock.”
Facebook (NASDAQ:FB) had its buy rating reaffirmed by analysts at Deutsche Bank. Deutsche Bank currently has a $62.00 price target on the stock.
Google (NASDAQ:GOOG) had its buy rating reissued by analysts at Deutsche Bank.
Seahawk Drilling (NASDAQ:HAWK) had its buy rating reaffirmed by analysts at Deutsche Bank. The firm currently has a $29.00 price target on the stock.
Lexicon Pharmaceuticals (NASDAQ:LXRX) had its buy rating reiterated by analysts at Gabelli.
Manulife Financial (NYSE:MFC) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $18.00 price target on the stock. Zacks’ analyst wrote, “Manulife has been performing favorably over the past many quarters. The company is aggressively developing its business in Asia, which remains key to its long-term growth. Manulife also has a solid market position in the global markets, and has effectively reduced exposure to potential equity markets as well as interest rate risks. It has also revised product focus on less capital intensive lines of business while maintaining adequate regulatory risk-adjusted capitalization. In addition, Manulife has successfully maintained a significant scale in core business lines and has seen strong growth in its assets under management. However, the persistently low interest rate environment and foreign exchange exposure will continue to be a headwind. We thus maintain our Neutral recommendation on the company.”
Quanta Services (NYSE:PWR) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $29.00 price target on the stock. Zacks’ analyst wrote, “Quanta is the largest contractors serving the transmission and distribution sector of the North American electric utility industry We maintain our Neutral recommendation on Quanta Services Inc. Second quarter results for this provider of contracting services and infrastructure solutions were encouraging, as recurring earnings of $0.35 were 11.8% ahead of the Zacks Consensus Estimate and 18.6% above the prior-year level. The company’s strengths include strong project execution, increasing demand for its services and customer confidence. Quanta Services is benefiting from increased spending in the Electric Power segment on projects to upgrade and deploy the electric power transmission infrastructure. However, in the reported quarter the segment faced some short term cyclical issues related to the timing of new project awards and their start dates. The Natural Gas and Pipeline Infrastructure Services segment continues to perform well with double-digit revenue growth. Fiber Optics also faced some issues due to fluctuations in telecom services revenues “
Total System Services (NYSE:TSS) had its buy rating reiterated by analysts at Citigroup Inc.. Citigroup Inc. currently has a $34.00 price target on the stock.
Waters Corp. (NYSE:WAT) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $109.00 price target on the stock. Zacks’ analyst wrote, “We are reaffirming our Neutral recommendation on Waters Corporation with a target price of $109. The year 2012 was a challenge for Waters, which is continuing for the first half of 2013 as well. The company is experiencing slower than expected growth in both top and bottom line. Though the company gained a pretty consistent organic growth rate through the following quarters, demand remained sluggish. However, fair pricing for its products and its cost control effort helped it to deliver stable levels of profitability. The company continued to benefit from newer core offerings in chromatography, mass spectrometry and thermal technologies. Weak general economic condition continued to affect pharmaceutical end markets and continues to remain a matter of concern.”
Wal-Mart Stores (NYSE:WMT) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $79.00 target price on the stock. Zacks’ analyst wrote, “After the dismal run in the first quarter, Walmart again put up a weak show in the second quarter of fiscal 2014. The retail giant met the Zacks Consensus Estimate for earnings but missed the same for revenues due to a gloomy global consumer spending environment. Moreover, the company slashed both its revenue and earnings expectations for the fiscal year. However, we are encouraged with the company’s long-term fundamentals considering its scale, geographic, and product diversities. We are also impressed with the company’s initiatives to reduce operating expenses. In addition, the company has a strong international presence and has been expanding its e-commerce business. However, rising gas prices, delayed income tax refunds and higher payroll taxes will continue to hurt consumer spending going ahead. Currency headwinds, inventory concerns and continued economic pressure keep us on the sidelines.”
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