Research Analysts’ Price Target Changes for August, 18th (AQN, ASH, BRY, CBL, CPX, EL, HIBB, III, LGF, LW)
Algonquin Power & Utilities Corp (TSE:AQN) had its target price raised by TD Securities from C$9.00 to C$9.50.
Ashland (NYSE:ASH) had its target price raised by Argus from $118.00 to $123.00. The firm currently has a buy rating on the stock.
Berry Petroleum Company (NYSE:BRY) had its target price lowered by Paradigm Capital from $3.00 to $2.75.
Callidus Capital Corp (TSE:CBL) had its target price raised by NBF from C$25.00 to C$28.00.
Capital Power (TSE:CPX) had its target price raised by BMO Capital Markets to C$27.00.
Estee Lauder Companies (NYSE:EL) had its price target boosted by Bernstein from $81.00 to $82.00.
Hibbett Sports (NASDAQ:HIBB) had its target price cut by Needham & Company LLC from $63.00 to $55.00. Needham & Company LLC currently has a buy rating on the stock.
Imperial Metals (TSE:III) had its price target trimmed by TD Securities from C$12.00 to C$11.50.
Lions Gate Entertainment Corp. (NYSE:LGF) had its price target increased by Barrington Research to $46.00.
Leisureworld Senior Care (TSE:LW) had its price target boosted by BMO Capital Markets to C$14.25.
Leisureworld Senior Care (TSE:LW) had its target price increased by Dundee Securities to C$14.25.
Marvell Technology Group (NASDAQ:MRVL) had its price target cut by MKM Partners from $19.00 to $17.00. MKM Partners currently has a buy rating on the stock.
Partners Real Estate Investment Trust (CVE:PAR.UN) had its price target boosted by M Partners to C$4.50.
Partnerre (NYSE:PRE) had its price target trimmed by FirstEnergy Capital to $24.00. The firm currently has a market perform rating on the stock.
Temple Hotels (TSE:TPH) had its target price trimmed by LB Securities from C$6.50 to C$6.25.
Ultrapetrol Bahamas (NASDAQ:ULTR) had its price target cut by Stifel Nicolaus from $5.00 to $4.50. The firm currently has a buy rating on the stock.
Walter Investment Management Corp (NYSE:WAC) had its target price lowered by Compass Point from $23.00 to $18.00. The firm currently has a sell rating on the stock. The analysts wrote, “We reiterate our Sell rating and lower our price target on WAC to $18 from $23 following the 2Q14 earnings release. The second quarter earnings release was in-line with our expectations as a bounce back in amortization expense pushed servicing margins lower, origination earnings benefited from a larger HARP-eligible servicing portfolio, and the company guided to lower earnings in the back half of 2014. However, the vast majority of the 2Q14 earnings report was driven by HARP originations and there are a series of regulators investigating WAC’s servicing practices. “We expect the expense associated with addressing regulators concerns (as we have seen from other servicers) and the impact of refi burnout on origination revenue to make it difficult for WAC to sustain GAAP earnings above $0.50 per share over the next several quarters. Due to these pressures, we believe the consensus estimates for FY15 remain too high at $4.94 per share and do not reflect the true economic returns to shareholders. Our estimates for ‘adjusted’ operating earnings as reported by WAC in FY15 is $3.14 (apples to apples to street estimates), but on our interpretation of operating earnings, we estimate $2.55 for FY15. Our $18 price target is 7x our $2.55 estimate. We are adjusting our FY14E operating EPS to $3.50 from $2.83 due to this quarter’s results and elevated gain on sale revenue. Our FY15E operating EPS falls to $2.55 from $3.26.”
Whistler Blackcomb Holdings (TSE:WB) had its target price raised by TD Securities from C$21.00 to C$22.00.
Whistler Blackcomb Holdings (TSE:WB) had its target price increased by LB Securities from C$17.50 to C$18.00.
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