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Equities Research Analysts’ ratings reiterations for Thursday, June 12th:

Brookfield Renewable Energy Partners (TSE:BEP.UN) had its buy rating reissued by analysts at TD Securities.

British Sky Broadcasting Group plc (NASDAQ:BSYBY) had its buy rating reaffirmed by analysts at Goldman Sachs.

Baytex Energy Corp (NYSE:BTE) had its sector outperform rating reissued by analysts at Scotiabank.

Boston Properties (NYSE:BXP) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $123.00 target price on the stock.

Downer EDI Limited (ASX:DOW) had its buy rating reaffirmed by analysts at Deutsche Bank. Deutsche Bank currently has a $6.04 target price on the stock, up from their previous target price of $6.02.

Flight Centre Travel Group (ASX:FLT) had its neutral rating reaffirmed by analysts at Commonwealth Bank.

Halliburton Company (NYSE:HAL) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $70.00 target price on the stock. Zacks’ analyst wrote, “Following Halliburton’s strong first quarter results, we are maintaining our Neutral recommendation on the oilfield services behemoth. The company has been benefiting from higher activity in the international markets, which has more than made up for sluggish North American operations. In fact, Halliburton expects the strong demand trend in international markets to continue in the coming years. Halliburton’s inexpensive valuation and the favorable DOJ verdict over the company’s role in the Macondo oil spill lend additional support. Nevertheless, we are staying on the sidelines given the increased pricing pressure in its North American operations, oversupply in the pressure pumping business and a sharp run-up in its stock price. “

The Home Depot (NYSE:HD) had its neutral rating reissued by analysts at Zacks. Zacks currently has a $84.00 price target on the stock. Zacks’ analyst wrote, “Despite a slow start to the spring selling season, Home Depot posted sturdy results for first quarter fiscal 2014. Following the strong performance, management reiterated its sales guidance and raised its earnings forecast for fiscal 2014. We expect Home Depot’s focus on developing merchandising tools and increasing investment in e-Commerce to boost its top line and increase market share. Moreover, we believe that the company is on track to achieve its long-term dividend payout, share repurchase, and return on investment targets. However, we remain slightly cautious about the stock due to a soft economic recovery impacting discretionary spending and intense competition from specialty stores and mass retailers. Therefore, we retain our long-term Neutral recommendation on the stock.”

Hershey (NYSE:HSY) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $102.00 target price on the stock. Zacks’ analyst wrote, “Hershey announced lower-than-expected first-quarter 2014 results as sales softened and input costs increased. Hershey missed the Zacks Consensus Estimate for both earnings and revenues – possibly one of the softest results for the company. Moreover, though management maintained the top- and bottom-line guidance for 2014, it lowered gross margin expectations in anticipation of higher dairy costs leading to a decline in share price. However, despite the near-term weakness, we have faith in the company’s long-term fundamentals. Overall, Hershey’s strong brand positioning, strategic marketing investments in core brands, disciplined innovation and consumer capabilities make it attractive. However, even though the company is fast expanding its international presence, we prefer to remain on the sidelines until we see substantial profitability from these efforts. We, thus, have a Neutral recommendation on the stock.”

Itv Plc (NASDAQ:ITVPF) had its buy rating reaffirmed by analysts at Goldman Sachs.

Invesco (NYSE:IVZ) had its neutral rating reissued by analysts at Zacks. They currently have a $40.00 target price on the stock. Zacks’ analyst wrote, “Invesco’s first-quarter 2014 adjusted earnings comfortably surpassed the Zacks Consensus Estimate. Growth in top line driven by improvement in assets under management (AUM) was the tailwind. Moreover, a healthy balance sheet position continued to pose as the company’s strength. However, these positives were partially offset by increase in expenses. Nevertheless, we expect operating leverage to improve in the long term owing to the company’s cost-control initiatives. Additionally, meaningful capital deployment activities continue to boost shareholders’ value. Further, the company is poised to benefit from the improved global investment flows, given its diversified footprint and products. However, high debt levels and rising expenses remain matters of concern.”

Lowe's Companies (NYSE:LOW) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $49.00 target price on the stock. Zacks’ analyst wrote, “Weather disruptions in the initial part of the year took a heavy toll on Lowe’s first-quarter fiscal 2014 performance that came in lower-than-expected. However, it did manage to achieve year over year growth. Adding to the woes are the mixed recovery signals from the housing market. Also, we believe spending on big remodeling projects will likely remain under pressure until the housing market fully stabilizes and consumer-spending rebounds. However, Lowe’s efforts to expand in high-growth markets to improve sales and profitability are impressive. We also remain positive on the company’s strategic initiatives and expect its merchandising resets and focus on enhancing customer-shopping experience to help generate higher sales. We remain on the sidelines as these efforts might prove time consuming and therefore, reiterate our Neutral recommendation on the stock.”

McKesson (NYSE:MCK) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $197.00 price target on the stock. Zacks’ analyst wrote, “McKesson Corporation’s fiscal fourth quarter 2014 (ended Mar 31, 2014) earnings of $2.55 per share easily beat the Zacks Consensus Estimate of $2.38 per share and were up 72% from the year-ago quarter. Revenues grew 25.0% to $38.1 billion in the fourth quarter of fiscal 2014, surpassing the Zacks Consensus Estimate of $35.2 billion. We are impressed by the fiscal fourth quarter beat and positive guidance for 2015. McKesson has been actively pursuing deals and acquisitions to drive growth. McKesson’s relentless efforts to acquire Celesio were commendable. McKesson has a history of successful acquisitions. We believe the Celesio acquisition is a step in the right direction and will allow McKesson to gain a strong foothold in Europe, thereby geographically expanding its core operations further. We maintain our Neutral recommendation. “

Medtronic (NYSE:MDT) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $64.00 target price on the stock. Zacks’ analyst wrote, “Medtronic reported fourth-quarter fiscal 2014 adjusted EPS of $1.12, up 2% year over year, but in line with the Zacks Consensus Estimate. Revenues came in at $4.566 billion, up 3% at CER, marginally missing the Zacks Consensus Estimate of $4.575 billion. The company’s core pacing and ICD segments posted disappointing sales for another quarter. Moreover, spine revenues continue to maintain a sluggish trend. However, U.S. launch of CoreValve will be a significant contributor in fiscal 2015. Besides, a focus on portfolio expansion with the objective to boost revenues from emerging markets is encouraging. We are also looking forward to the company’s recent attempt to rebuild itself as a health care service provider. However, looming headwinds such as currency headwinds, soft economic condition and tough competition keep us on the sidelines. Currently we are Neutral on the stock.”

Microsoft (NASDAQ:MSFT) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $43.00 price target on the stock. Zacks’ analyst wrote, “Microsoft is one of the largest software companies in the world. Its operating systems are installed on the majority of computers anywhere in the world. Fiscal third quarter 2014 earnings exceeded the Zacks Consensus Estimate. The reorganization of the business and “cloud-first mobile-first” focus are encouraging, but execution risks are considerable. Additionally, competition remains stiff and Microsoft’s dominant position in the PC market continues to be challenged by new-age devices. However, considering the fact that the enterprise refresh cycle, new subscription model, Azure and promising new products will continue to generate sizeable cash flows, we are reiterating our Neutral recommendation on Microsoft shares.”

Newalta (TSE:NAL) had its sector perform rating reaffirmed by analysts at Scotiabank.

Norfolk Southern Corp. (NYSE:NSC) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $107.00 price target on the stock. Zacks’ analyst wrote, “We maintain our Neutral recommendation on Norfolk Southern. The company will likely benefit from continuous investments in infrastructure, favorable pricing revisions and abundant opportunities within the transportation business sector. The growing market share of its Intermodal segment and an improving Merchandize segment also bode well for the company. Strong demand in the automotive sector along with recovery in the construction and agriculture markets will likely support the company’s efforts to generate better revenues in the coming quarters. Further, an improving utility coal market and increase in steel demand makes us optimistic. However, our positive outlook is somewhat dampened by the weak performance of the export coal segment that could hold back its momentum in the quarters ahead. Other potential risks faced by the company include regulatory issues, volatile fuel prices, labor problems and competitive pressure. “

PDC Energy (NASDAQ:PDCE) had its positive rating reaffirmed by analysts at Brean Capital. They currently have a $75.00 price target on the stock.

Perrigo Company PLC (NASDAQ:PRGO) had its neutral rating reissued by analysts at Zacks. The firm currently has a $148.00 target price on the stock. Zacks’ analyst wrote, “Perrigo performed disappointingly in the third quarter of fiscal 2014, missing both on sales and earnings. Results were hurt by the tough retail environment and a weak cough/cold and flu season. Weakness in the consumer healthcare segment is a cause of concern as the segment is the major contributor to Perrigo’s top line. The company’s earnings of $1.31 per share were well short of the Zacks Consensus Estimate of $1.53. Lower-than-expected revenues led to the earnings miss. Moreover, the reported earnings were 8% below the year-ago figure. Perrigo lowered its earnings per share (on an adjusted basis) guidance for fiscal 2014 to the range of $6.15-$6.30 (previous guidance: $6.45-$6.70). We maintain our Neutral view on the stock. “

Reynolds American (NYSE:RAI) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $63.00 target price on the stock. Zacks’ analyst wrote, “Reynolds’ first-quarter 2014 earnings of $0.72 per share missed the Zacks Consensus Estimate by 2.7%. Earnings, however, were in line with the prior-year results. Lower cigarette volume and increased investment behind the Vuse brand of e-cigarettes offset top line gains. Net sales went up 2.8% due to market share gains in all the brands and higher pricing in cigarettes and moist snuff segments. Core brands like Camel, Pall Mall and Santa Fe continued to deliver strong performance. Reynolds’ continuous innovations in the smokeless and moist snuff products are helping it to maintain a dominant share in the category. Moreover, the company’s advancement in the e-cigarette category with the Vuse brand is encouraging. However, the high excise tax and anti-smoking regulations remain a persistent overhang. Again, the tobacco sector is facing declining volume for the past few quarters due to shift in demand from cigarettes to other non-tobacco products. We, therefore, prefer to stay on the sidelines”

Regions Financial Corp (NYSE:RF) had its neutral rating reissued by analysts at Zacks. The firm currently has a $11.00 target price on the stock. Zacks’ analyst wrote, “Regions Financial’s first-quarter 2014 earnings came ahead of the Zacks Consensus Estimate. However, it was below the prior-year quarter figure. Results benefited from increased net interest income and declining expenses. A strong capital position was among the other positives. Further, the announcement of the capital deployment activities following the Fed’s approval of the 2014 capital plan enhanced investors’ confidence in the stock. We believe that the company’s favorable funding mix, improved core business performance, expansion spree, and other strategic initiatives will yield profitable earnings in the coming quarters. Additionally, an improvement in its credit quality will be a catalyst. However, regulatory issues and a declining fee income remain matters of concern.”

Ramsay Health Care Limited (ASX:RHC) had its hold rating reaffirmed by analysts at Deutsche Bank. The firm currently has a $45.20 price target on the stock.

Reed Elsevier plc (NYSE:RUK) had its neutral rating reiterated by analysts at Goldman Sachs.

Skechers USA (NYSE:SKX) had its outperform rating reaffirmed by analysts at Zacks. The firm currently has a $50.00 price target on the stock.

Sohu.com (NASDAQ:SOHU) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $61.00 price target on the stock.

State Street (NYSE:STT) had its neutral rating reiterated by analysts at Zacks. They currently have a $70.00 target price on the stock. Zacks’ analyst wrote, “State Street’s first-quarter 2014 earnings missed the Zacks Consensus Estimate owing to higher operating expenses and decline in net interest revenue. However, growth in fee revenues and improvement in asset position and capital ratios were the tailwinds. We anticipate the company to benefit from its cost-saving program and product diversification going forward. Further, the company is well positioned to grow organically driven by healthy core servicing and investment management franchises. However, a still low-interest rate environment, deteriorating net interest margin and mounting operating expenses are expected to dent the company’s performance in the upcoming quarters. Despite these concerns, enhanced capital deployment activities are anticipated to boost investors’ confidence in the stock. “

Xcel Energy (NYSE:XEL) had its neutral rating reissued by analysts at Zacks. They currently have a $32.00 target price on the stock. Zacks’ analyst wrote, “Xcel Energy Inc. got off to a solid start in 2014 with both earnings and revenue beating Zacks Consensus Estimates. The harsh winter weather drove up power demand, which in turn boosted sales. Going forward, positive economic fundamentals and constructive regulatory outcome will continue to support the company’s revenue stream. Xcel Energy’s efforts to expand its renewable portfolio will bode well for future growth given the current encouraging climate for green energy generation in the U.S. In addition, consistent dividend increases will retain investors’ confidence in the stock. However, rising operating costs and tighter environment legislations might limit the company’s profitability We have maintained our Neutral recommendation. “

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