Analysts’ Ratings Reiterations for July, 8th (BAX, BEP.UN, BTE, HHS, LYB, PSA, PTR, QGEN, VRTX, VTEQ)
Baxter International (NYSE:BAX) had its neutral rating reissued by analysts at Zacks. They currently have a $79.00 price target on the stock. Zacks’ analyst wrote, “Baxter’s 2014-first quarter adjusted earnings per share of $1.19 rose 9.2% y-o-y and beat the Zacks Consensus Estimate by $0.09. Revenues of $3,951 million were up 14.6% and topped the mark as well. We are impressed by optimistic financial guidance rendered by the company, indicating earnings and revenue growth. Although expensive, the Gambro acquisition has long term prospects for Baxter. Further, a solid product pipeline and strategic collaborations, represents key value drivers for the company. However, we are concerned about integration-related risks along with a somber outlook for hospital. As a result, we reiterate our Neutral recommendation on Baxter with a target of $79.00.”
Brookfield Renewable Energy Partners (TSE:BEP.UN) had its neutral rating reissued by analysts at CSFB.
Baytex Energy Corp (TSE:BTE) had its neutral rating reissued by analysts at CSFB.
Harte-Hanks (NYSE:HHS) had its buy rating reissued by analysts at Noble Financial.
LyondellBasell Industries NV (NYSE:LYB) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $103.00 price target on the stock.
Public Storage (NYSE:PSA) had its neutral rating reissued by analysts at Zacks. They currently have a $179.00 price target on the stock. Zacks’ analyst wrote, “Public Storage’s core FFO per share missed the Zacks Consensus Estimate. Results reflect higher expenses tied to snow removal and utilities in the cold weather as well as increased property tax expense. Nevertheless, aided by an increase in revenue, core FFO per share registered a 9.1% rise from the prior-year quarter. While the FFO estimate miss due to weather associated expenses, is not encouraging, we believe that Public Storage has one of the strongest balance sheets in the sector with adequate liquidity and virtually all of the book value of its real estate facilities are unencumbered. The company’s acquisition initiatives helped it carve a niche in the U.S and the European market. Backed by this, we believe the company is well poised to maintain its growth curve going forward. Yet, its European business has not yet fully recovered. Also, the company operates under significant competition and its substantial construction pipeline increases operational risks.”
PetroChina Company Limited (NYSE:PTR) had its neutral rating reissued by analysts at Zacks. The firm currently has a $132.00 price target on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on PetroChina ADRs. Going forward, the main growth driver will likely be its leverage to the fast-growing Chinese market and an ever-expanding market/resource base. Being one of the two Chinese integrated oil companies, PetroChina is well positioned to capitalize on the country’s favorable trends. It is also successfully expanding its footprint in strategic locations like Canada, Australia and Iraq. However, we are concerned about prospects for the company’s oil production growth, considering its heavy exposure to significantly mature-producing areas. Other near-term headwinds include limited international exposure and an ambitious investment program. The company’s increasing operating costs also keep us wary.”
Qiagen N.V. (NASDAQ:QGEN) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $26.00 target price on the stock. Zacks’ analyst wrote, “Qiagen reported first-quarter 2014 results with adjusted EPS of $0.22, which was up 10.0% year over year but was in line with the Zacks Consensus Estimate. Adjusted net sales were up 5.0% at $317.4 million, in line with the Zacks Consensus Estimate. The company witnessed modest sales growth in consumables and other revenues as well as instruments. Although molecular diagnostics showed sluggish growth, we are upbeat about the huge potential of this still untapped market on a global basis. We are also upbeat about balanced international growth with focus on emerging markets. Strategic collaborations and test menu expansions are other upsides. However, competitive landscape remains tough. Also, strong reliance on relationships with collaborative partners and foreign exchange headwinds are other downsides. Accordingly, we initiate our coverage on Qiagen at Neutral.”
Vertex Pharmaceuticals (NASDAQ:VRTX) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $102.00 price target on the stock. Zacks’ analyst wrote, “Vertex’s first-quarter 2014 loss was $0.85 per share, much wider than the loss of $0.12 reported in the year-ago quarter and the Zacks Consensus Estimate of a loss of $0.70. Revenues of $108.2 million were below the Zacks Consensus Estimate of $135 million. Vertex is going through a transition period given its decision to focus on its cystic fibrosis (CF) franchise and drop investment in the hepatitis C virus franchise. CF drug, Kalydeco, is doing very well and Vertex is working on expanding the product’s label. The company received a huge boost in June thanks to positive data on a combination of Kalydeco and lumacaftor. Approval for this combination would provide access to a huge number of eligible patients. We are initiating coverage on Vertex with a Neutral recommendation. While we believe Kalydeco has blockbuster potential, we remain concerned about the company’s dependence on just the CF franchise for growth. “
Veriteq Corp (NASDAQ:VTEQ) had its outperform rating reaffirmed by analysts at Zacks. They currently have a $0.45 price target on the stock. Zacks’ analyst wrote, “VeriTeQ’s RFID technology is unique as it is the only one on the market which affords access to UDI information in-vivo, at the point of care and from outside of the body. The company will look to exploit the market for direct part marking of medical devices, demand for which is expected to accelerate as a result of a recent FDA mandate as well as a recent breast implant rupture scare. Commercialization is now underway via an agreement with a breast implant manufacturer. Similar agreements with other, larger breast implant manufacturers could be on the horizon. The RFID technology is also used for radiation dosimetry, a very large market with potential significant opportunity for VTEQ. VTEQ has little operating history and will need to raise significantly more capital to fund operations. As such, an investment in the company is not without meaningful risk. “
VIVUS (NASDAQ:VVUS) had its outperform rating reissued by analysts at Zacks. They currently have a $6.00 target price on the stock. Zacks’ analyst wrote, “We are initiating coverage on VIVUS with an Outperform recommendation and a target price of $6.00. In the first quarter of 2014, VIVUS reported a loss of $0.13 per share, much narrower than the Zacks Consensus Estimate of a loss of $0.34 and the year-ago loss of $0.53. Total revenues at $36.7 million were also higher than $4.1 million recorded in the year-ago period. We are positive on the several initiatives that the company has undertaken to boost Qsymia sales. We are also encouraged by the company’s multiple partnerships for Stendra. Meanwhile, the potential inclusion of the 15-minute onset of action data in Stendra’s label would be a catalyst.”
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