Equities Research Analysts’ Ratings Reiterations for October, 30th (ABFS, ACT, ARUN, CNA, GT, IACI, NOK, TRLA, WU, YELP)
Arkansas Best Corp. (NASDAQ:ABFS) had its overweight rating reaffirmed by analysts at Stephens. The firm currently has a $36.00 price target on the stock, up from their previous price target of $30.00. The analysts wrote, “We reiterate our Overweight rating and are raising our target to $36 (was $30) following notification that the union employees covered by the Central Region Local Cartage supplement voted ‘overwhelmingly to reject a strike authorization.’ While the next steps toward finalizing the national agreement will be determined shortly, we think this eliminates a significant hurdle to completing the negotiating process. Once complete, we believe ABFS will be in a better position to compete with its non-unionized peers and will return the Company to a path of sustainable profitability.”
Actavis (NYSE:ACT) had its in-line rating reaffirmed by analysts at Jefferies Group. The analysts wrote, “ACT delivered in-line Q3 and solid 1st-time ’14 guide w/ WCRX that looks conservative. ACT renewed a promise of ‘double-digit’ organic growth off the higher earnings base; impressive w/ WCRX’s lower growth. Mgmt likely has the levers at its disposal to make it happen and we raise ’15-’16. Yet, with ambiguity around Gx pipeline and lifecycle risk on important WCRX franchises, it’s hard to justify a premium branded multiple here. Raise to $168. Maintain Hold.”
Aruba Networks (NASDAQ:ARUN) had its market perform rating reaffirmed by analysts at Oppenheimer. The analysts wrote, “We expect a strong quarter/outlook from Aruba and see a buying opportunity ahead of 1Q-FY14 results. Our checks are the strongest we’ve recorded and are particularly positive in the education vertical. This coincides with an unusually active quarter from Aruba announcing wins across its key verticals (education, medical, enterprise…), many of which are spurred by Aruba’s early 802.11ac move. We expect 1Q-FY14 QoQ growth of +4%-7% and are raising our estimates ahead of guidance and the Street’s +2.8% ($157.4M) target. Our 2Q-FY14 checks are equally bullish, suggesting mid-to-high single-digit QoQ growth vs. the Street’s +5.4% target (off a smaller base). The addition of Ingram Micro as a channel partner and a continued 802.11ac push are incremental 4Q levers.”
CNA Financial Corp. (NYSE:CNA) had its buy rating reiterated by analysts at Deutsche Bank. The firm currently has a $44.00 price target on the stock, up from their previous price target of $42.00. The analysts wrote, “CNA’s result came ahead of our forecast of $0.79 and Street consensus of $0.76. The delta with our forecast was primarily driven by P&C underwriting results, as both the accident-year loss ratio excl. cats and expense ratio came in approx. 100bps better than anticipated ($0.05 each). Additionally, favorable reserve development $76mm was more than double the $31mm we were modeling (another approx. $0.10). Other items were relatively close to in-line and essentially netted to a minimal positive impact. Buy.”
Goodyear Tire & Rubber Co. (NYSE:GT) had its positive rating reaffirmed by analysts at Goldman Sachs Group Inc.. The analysts wrote, “Post 3Q13 results we are making minor adjustments to our 2013-2015 EPS estimates to $2.70/$3.14/$3.81 from $2.62/$3.14/$3.71 driven by the impact of the 3Q beat for 2013 as well as refinements we have made to our price/mix/raw material assumptions. Our six-month price target remains unchanged at $26, implying 25% upside.”
IAC/InterActiveCorp. (NASDAQ:IACI) had its outperform rating reissued by analysts at RBC Capital. RBC Capital currently has a $56.00 target price on the stock, up from their previous target price of $50.00.
IAC/InterActiveCorp. (NASDAQ:IACI) had its sell rating reissued by analysts at Goldman Sachs Group Inc..
Nokia (NYSE:NOK) had its positive rating reaffirmed by analysts at Bank of America Corp.. The analysts wrote, “Our Buy rating is motivated by four key reasons. 1) Post the disposal of D&S to MSFT, the stub appears to be cheap, whilst our bull/bear case analysis suggests a very skewed risk/reward profile. 2) We believe that EBIT margins in NSN are sustainable in the 8-10% range in the medium term. 3) Advanced Technologies could provide meaningful upside to FY14/15e EBIT. 4) Potential reinstatement of a dividend and inclusion in equity indices could broaden the investor base of Nokia.”
Trulia (NASDAQ:TRLA) had its buy rating reissued by analysts at Goldman Sachs Group Inc.. The firm currently has a $51.00 price target on the stock.
Western Union (NYSE:WU) had its neutral rating reissued by analysts at Nomura. Nomura currently has a $17.00 price target on the stock, down from their previous price target of $17.50.
Yelp (NASDAQ:YELP) had its buy rating reaffirmed by analysts at Needham & Company. They currently have a $78.00 target price on the stock.
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