Research Analysts’ Ratings Reiterations for September, 3rd (AP.UN, BIDU, CB, CMCSA, CNMD, COF, FMC, GM, HCP, JDSU)
Allied Properties Real Estate Investment (TSE:AP.UN) had its outperform rating reissued by analysts at National Bank Financial. The firm currently has a C$36.50 price target on the stock.
Baidu Inc (NASDAQ:BIDU) had its buy rating reaffirmed by analysts at Deutsche Bank.
The Chubb (NYSE:CB) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $97.00 price target on the stock. Zacks’ analyst wrote, “Faced with catastrophe losses during the second quarter, Chubb missed the earnings estimates. However, we expect strong earnings over the long term given the company’s superior franchise network and a significant presence in its niche market. Chubb’s Commercial insurance segment has consistently reported favorable earnings led by a renewal rate that has increased over several quarters. The retention ratio stands at a stable level. Chubb’s Personal Insurance segment is also witnessing gradual market improvement. Moreover, Chubb’s international business has been performing strongly and is the key to its future growth. Moreover, the company’s disciplined capital management strategy which includes regular share buyback and dividend payment will drive the bottom line. We thus maintain our Neutral recommendation on the stock.”
Comcast (NASDAQ:CMCSA) had its neutral rating reissued by analysts at Zacks. Zacks currently has a $58.00 price target on the stock. Zacks’ analyst wrote, “Comcast reported mixed financial results for the second quarter of 2014 wherein its bottom line surpassed the Zacks Consensus Estimate while the top line missed the same. The company’s Cable business continues to show strength and the NBC Universal segment is also witnessing improvement. Moreover, extension of Olympic telecast rights, a string of innovative service launches and higher demand for metro Ethernet services are likely to spur growth for Comcast. Meanwhile, the company is planning to acquire Time Warner Cable which is expected to strengthen its foothold in the U.S. pay-TV market. However, the U.S. pay-TV market is nearing saturation. Moreover, intensifying competition from large carriers and low-cost video streaming companies, mounting programming costs, and persistent video subscriber loss pose significant headwinds for the company. We, thus, maintain our Neutral recommendation on Comcast.”
CONMED (NASDAQ:CNMD) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $42.00 target price on the stock. Zacks’ analyst wrote, “CONMED’s 2014-second quarter earnings of $0.47 per share rose 9.3% but missed the Zacks Consensus Estimate by a penny. However, revenues continue to fall. In the quarter it fell 2.5% on weaker sales of General Surgery devices, Surgical Visualization capital products and the discontinuance of the Cascade PRP product line. The company lowered its revenues and earnings guidance for 2014. CONMED is benefiting from the increasing trend of using minimally invasive techniques. Its broader line of surgical products is expected to boost revenues. As such, we maintain our Neutral recommendation with a target of $42.00.”
Capital One Financial Corp. (NYSE:COF) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $87.00 target price on the stock. Zacks’ analyst wrote, “Capital One’s second-quarter 2014 earnings came in ahead of the Zacks Consensus Estimate, backed largely by lower provision for loan losses, a fall in operating expenses and higher non-interest income. However, decline in net interest income marginally dragged the results. We anticipate continued synergies from the company’s geographic diversification and prudent expense management. Additionally, the resilience shown by most of the company’s businesses, along with a strong balance sheet position, will likely continue to support its financials. Nevertheless, pressure on interest income and impact of new regulations are expected to mar the company’s bottom-line improvement in the near term.”
General Motors Company (NYSE:GM) had its neutral rating reissued by analysts at Zacks. They currently have a $37.00 price target on the stock. Zacks’ analyst wrote, “General Motors recorded adjusted earnings of $0.58 per share in the second quarter of 2014, missing the Zacks Consensus Estimate of $0.78. Revenues grew 1.5% year over year to $39.6 billion, lagging the Zacks Consensus Estimate of $40.8 billion. The improvement year over year was driven by better pricing and favorable product launches. General Motors is benefiting from its focus on emerging markets, investments in the U.S. and efforts to boost sales through product launches. We also expect the improving results of the Opel brand to favorably impact the company’s financials. However, we are concerned about the high number of product recalls and the challenging situation in South Africa. Thus, we are maintaining a Neutral recommendation on General Motors. “
HCP (NYSE:HCP) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $45.00 target price on the stock. Zacks’ analyst wrote, “HCP has extended its relationship with Brookdale Senior Living by creating a $1.2 billion continuing care retirement communities (CCRC) joint venture (JV) and amending previous Emeritus leases. This CCRC partnership with Brookdale offers a solid platform for expansion. The company’s second-quarter 2014 adjusted FFO per share came in line with the Zacks Consensus Estimate and up 4.2% from the year-ago quarter, thanks to a rise in revenue. The company also raised its full-year outlook. We believe that improving fundamentals in the healthcare REIT market, a well-balanced and diversified portfolio, along with strategic acquisitions and tie-ups, would place this company on the growth trajectory going forward. Nevertheless, cut-throat competition, dependence on governmental healthcare programs for a number of its tenants and operators and an expected increase in interest rate remain matters of concern. “
JDS Uniphase Corp (NASDAQ:JDSU) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $12.00 price target on the stock. Zacks’ analyst wrote, “JDS Uniphase reported strong financial results for the fourth quarter of fiscal 2014 wherein both its top and bottom line outpaced the Zacks Consensus Estimate. A series of acquisitions along with strong revenue and cash flow are likely to spur growth for the company. Moreover, higher Internet usage and associated applications have boosted demand for components and modules used in 3G/4G high-speed communication networks. This is expected to benefit JDS Uniphase over the long term. However, sluggish economic growth coupled with lower capital spending by most carriers may act as headwinds for the company going forward. Meanwhile, the stock price is fairly valued at current levels. We, therefore, maintain our Neutral recommendation on JDS Uniphase.”
Nabors Industries (NYSE:NBR) had its neutral rating reissued by analysts at Zacks. The firm currently has a $28.00 target price on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Nabors Industries following its second quarter earnings results. The onshore contract driller reported higher June quarter profits on the back of impressive international operations along with improved production services. With leading positions in most natural gas and oil-based shale plays, Nabors is a big player in the North American land drilling market. Since last year, the company has also started paying quarterly dividends, which will create further value for shareholders. However, we remain concerned about the volatile natural gas fundamentals, which are likely to limit the company’s ability to generate positive earnings surprises. Nabors’ fairly debt-heavy balance sheet also remains an issue. “
Teradyne (NYSE:TER) had its neutral rating reiterated by analysts at Zacks. They currently have a $22.00 target price on the stock. Zacks’ analyst wrote, “Teradyne is a leading provider of automated test equipment. The company’s second-quarter earnings beat the Zacks Consensus Estimate on higher volumes although forward guidance was disappointing. Improving orders and backlog were however encouraging. A recovery in the core semiconductor business (processors, MCUs and power management), long-term opportunities in the high-growth wireless test market, growing memory market exposure, product lineup, lean cost structure and strong balance sheet are positives. However, excess capacity and pricing pressure could remain near-term headwinds. We are therefore reiterating our Neutral rating on TER shares.”
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