Research Analysts’ Ratings Reiterations for May, 26th (ACXM, AQG, AR, AVP, CHU, DFS, GNC, MDVN, NMBL, PG)
Acxiom (NASDAQ:ACXM) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $24.00 price target on the stock. Zacks’ analyst wrote, “Acxiom reported healthy fourth quarter fiscal 2014 results as adjusted earnings exceeded the Zacks Consensus Estimate by $0.04. Over the years, Acxiom has emerged as a formidable player in the field of marketing services and technology. The company is focusing on its core businesses across key regions for augmenting long-term margins. Acxiom also aims to improve top-line growth while continuing to invest in product enhancements and connectivity. However, the company operates in a competitive landscape that is becoming more complex with low barriers to entry, adding to its operating risks. As such, we maintain our long-term Neutral recommendation for the stock.”
Alacer Gold Corp – CDI (ASX:AQG) had its positive rating reiterated by analysts at JPMorgan Chase & Co..
Argonaut Gold (TSE:AR) had its outperform rating reissued by analysts at Scotiabank. Scotiabank currently has a C$6.25 price target on the stock.
Avon Products (NYSE:AVP) had its underperform rating reissued by analysts at Zacks. Zacks currently has a $13.00 price target on the stock. Zacks’ analyst wrote, “Avon reported yet another disappointing quarter wherein its first quarter 2014 adjusted earnings per share of $0.12 plunged over 50% and missed the Zacks Consensus Estimate of $0.20. Moreover, total revenue tumbled 11.1% year over year. We remain concerned about the challenges hindering the company’s growth over the past few quarters. These include loss of active representatives, declining volume and unfavourable foreign currency translations, along with reduced margins in mature markets like North America. Moreover, weakness in the emerging markets, like China, as well as regulatory and cash flow issues risking dividend are the other negatives. We are also apprehensive about the lingering macroeconomic headwinds in Venezuela and Argentina, which may adversely impact the company’s financials.”
China Unicom Hong Kong (NYSE:CHU) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $16.00 price target on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on China Unicom. The company registered top and bottom-line growth in the first quarter of 2014 owing to strong contribution from its 3G and broadband businesses. We expect future performance of the company to be aided by the well-performing mobile and broadband business, the expansion of 3G network and strong sales of iPhones. We expect the company to continue with its subscriber addition owing to network expansion, low tariffs and bundled offerings. Further, a speedy rollout of the faster HSPA+ network and collaborations with handset manufacturers could create tailwinds going forward. Nevertheless, we remain concerned about stiff competition, which can affect the company’s ARPU. The carrier continues to lag behind rival China Mobile in 4G investments and subscriber addition. Additionally, access line loss and high operating expenses can be a drag on its profits.”
Graincorp (ASX:GNC) had its buy rating reaffirmed by analysts at ING Group. They currently have a $9.40 price target on the stock. They noted that the move was a valuation call. The analysts noted that the move was a valuation call.
Medivation (NASDAQ:MDVN) had its neutral rating reissued by analysts at Zacks. They currently have a $72.00 price target on the stock. Zacks’ analyst wrote, “Medivation posted a first quarter 2014 loss of $0.18 per share, well below the year-ago loss of $0.36 per share but wider than the Zacks Consensus Estimate of a loss of $0.03 per share. Revenues came in at $87.2 million, missing the Zacks Consensus Estimate of $112 million but up 88.9%. Although Medivation missed expectations on the top as well as bottom line, Xtandi’s performance was strong and helped the company cut loss by half compared to the year-ago period. Moreover, the increased Xtandi guidance is encouraging. Xtandi could very well be a game-changer for Medivation. The prostate cancer market represents huge commercial potential. Expansion into the pre-chemo setting would be a major positive for Medivation. We remain Neutral on the stock.”
Nimble Storage (NASDAQ:NMBL) had its underperform rating reiterated by analysts at DA Davidson. DA Davidson currently has a $22.00 price target on the stock.
The Procter & Gamble Company (NYSE:PG) had its neutral rating reissued by analysts at Zacks. They currently have a $85.00 target price on the stock. Zacks’ analyst wrote, “P&G reported mixed fiscal third-quarter 2014 results, beating the Zacks Consensus Estimate for earnings but missing the same for sales. Earnings grew 5% year over year driven by healthy organic sales growth, improved operating margins and lower taxes. Despite slower developing market growth, organic revenues were up 3% due to growth in both volume and pricing. Overall, we are encouraged by P&G’s strong brand recognition, diversified portfolio, rapid growth in developing nations, impressive product development capabilities and marketing prowess. The company’s disciplined geographic/product expansion and accelerated cost savings bode well for further future growth. However, currency headwinds, rising commodity costs, increasing competitive pressures, challenging consumer spending environment in the U.S. and deceleration in emerging market growth rates remain the overhangs. Also, we would like to see significant margin improvement before becoming more positive on the stock.”
PanAust Limited (ASX:PNA) had its overweight rating reissued by analysts at JPMorgan Chase & Co..
Pioneer Natural Resources (NYSE:PXD) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $212.00 price target on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Pioneer Natural Resources following its first quarter 2014 results. The company posted stable numbers in the quarter backed by higher price realization. Total production in the most recent quarter also rose by approximately 8.4%, due to robust yields in the core growth assets of Spraberry field, Wolfcamp Shale and Eagle Ford Shale. Moreover, its joint venture in the southern Wolfcamp acreage is helping to accelerate activities in the area. However, we remain on the sidelines considering Pioneer’s sensitivity to gas/oil price volatility, as well as its drilling results, costs, geo-political risks and project timing delays. Increasing cost pressure in the highly competitive shale plays is also a cause of concern. Additionally, the Permian operations carry high execution risk due to the transition from the Spraberry vertical development program to the horizontal appraisal of the Wolfcamp.”
Qantas Airways Limited (ASX:QAN) had its underweight rating reiterated by analysts at JPMorgan Chase & Co..
Roc Oil Company Limited (ASX:ROC) had its overweight rating reaffirmed by analysts at JPMorgan Chase & Co..
Companhia de Saneamento Basico (NYSE:SBS) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $11.00 target price on the stock. Zacks’ analyst wrote, “SABESP reported a year over year decline of 3.7% in net income in first-quarter 2014. Earnings came in at $0.30 per American Depository Receipt (ADR). Revenues improved 5.6% driven by a 4.5% increase in billed water and sewage volumes. Water loss rate was 24.1% versus 25.5% in the year-ago quarter. SABESP aims to achieve a water loss ratio of 18% and new water and sewage connections of 1.3 million and 1.7 million respectively by 2020. For 2014-2018, SABESP has planned a capital expenditure of R$12.8 billion. Despite these positives, rising expenses, foreign currency translation risks, governmental interference and dependence on electricity as a source of energy may prove to be potential headwinds. Thus, currently we maintain our Neutral recommendation on SABESP.”
SP AusNet (ASX:SPN) had its overweight rating reissued by analysts at JPMorgan Chase & Co.. The firm currently has a $1.40 target price on the stock.
Silvercorp Metals (NYSE:SVM) had its market perform rating reiterated by analysts at Raymond James. The firm currently has a $2.30 price target on the stock, down from their previous price target of $2.80.
United States Steel (NYSE:X) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $25.00 price target on the stock.
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