Analysts’ Upgrades for September, 21st (AMP, BCE, BCS, DISH, INFY, LFL, PBR, RCI, SPGI, STI)
Ameriprise Financial Services (NYSE:AMP) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Ameriprise’s modification of its product and service-offering capacity to keep pace with the dynamic market needs is expected to support the top line growth in the quarters ahead. Further, the company will continue to enhance shareholder value, given its strong balance sheet position and capital flexibility. Also, the company’s inorganic growth strategy will further aid its profitability in the near term. However, the company’s fixed interest costs and claims continue to remain at high levels and thus it needs to put in more efforts to offset the continued pressure on fee and asset growth. Also, continued equity market volatility and outflows in the Asset Management segment as well as elevated expenses will likely hurt the company’s financials in the near term.”
BCE (NYSE:BCE) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “BCE’s subsidiary, Bell Canada leads the Canadian broadband communications market through its recent launch of Home Hub 3000 WiFi services with Wireless 4K Whole Home PVR from Fibe TV. Increasing deployment of Gigabit Fibe , 4G LTE mobile networks, upcoming 5G networks, IP phone services and post-paid businesses should help the company gain customers. BCE’s recent acquisition of Q9 Networks fully should boost cloud suite. Thus, BCE’s strategic moves to enhance employee skills, increase capital investments and reduce expenditures though impressive, may impact the company’s financials and growth prospects if not executed properly. Moreover, stringent regulatory measures, decline in network access services lines, price competition, exposure to labor union issues covered by collective bargaining agreements leading to work disruptions and higher labor costs, operational risks and construction and launch delays are major risks.”
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Barclays PLC (NYSE:BCS) was upgraded by analysts at HSBC from a hold rating to a buy rating.
Dish Network Corp. (NASDAQ:DISH) was upgraded by analysts at Zacks Investment Research from a hold rating to a strong-buy rating. They currently have $60.00 price target on the stock. According to Zacks, “DISH Network’s efforts to diversify its business model from being a pure-play satellite-TV operator to an Internet TV operator should aid the company’s performance as it has emerged as a strong alternative to counter the competitive threat from video streaming operators. Further, DISH Network is poised to benefit from its recent launch of a new version of its Internet TV service — Sling TV, which will allow subscribers to stream on up to three different devices simultaneously for $20 a month. Additionally, the company has a strong portfolio of wireless spectrums which can be monetized or can be used for installing mobile network. However, persistent loss of subscribers remains a headwind for DISH Network. “
Infosys (NYSE:INFY) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Infosys’ earnings have been a mixed bag over the four trailing quarters, with a beat and a miss, while being in line for the other two. The company has added a significant number of clients in recent times, which is expected to enhance both top- and bottom-line growth. The company’s recent introduction of AikiDo service offerings, and the success of its EdgeVerve business and Skava platform are expected to set it apart from peers, thereby aiding its growth momentum in the near term. However, factors like seasonality and stiff competition in the IT industry may continue to impact the company’s financials. Also, Infosys’ fixed-price and fixed-timeframe contracts expose it to risks of loss arising from inaccurate estimations of project pricing. This apart, slowdown in certain key markets and currency volatility, which has been heightened by Brexit, adds to the company’s woes.”
LATAM Airlines Group SA (NYSE:LFL) was upgraded by analysts at Raymond James Financial Inc. from an underperform rating to a market perform rating.
Petroleo Brasileiro SA – Petrobras (NYSE:PBR) was upgraded by analysts at Raymond James Financial Inc. from an underperform rating to a market perform rating.
Rogers Communication (NYSE:RCI) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $47.00 target price on the stock. According to Zacks, “Rogers Communications is the first wireless operator in Canada to offer “Internet of Things” (IoT) as a service to business enterprises. End-to-End Incident Management, Farm & Food Monitoring and Level Monitoring are the three IoT services that the wireless carrier specializes in. The company’s newly launched cost-effective, simple and competitive IaaS Cloud services and Rogers Unison (a new mobile solution) have increased its postpaid wireless and internet subscribers. The company has also been focusing on the business enterprise segment. Moreover, the company aims to launch its Internet TV services with 4K picture quality by the end of the year. Additionally, Rogers Communications provides regular quarterly dividend to its shareholders. However, intense wireless competition, continuous softness in the advertising market and loss of viewers to video streaming service providers remain potent headwinds. “
S&P Global (NYSE:SPGI) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $140.00 price target on the stock. According to Zacks, “After completing with its portfolio restructuring, McGraw-Hill Financial rechristened as S&P Global is now focusing on its core business that would help it emerge as a leader among rating providers, benchmark providers, and analytics in the global capital and commodity markets. In addition, to aid its goal of emerging as a leader in the global analytics arena, the company has also made strategic investments. All these endeavors have helped the company to continue with its positive earnings surprise streak for the fourteenth quarters in row, when it reported second-quarter 2016 results. However, McGraw-Hill’s results could be hampered by lower volume of debt securities issued in capital markets. Recently, the company released its global bond issuance forecast. The company expects global issuance in 2016 to fall 3.8% in comparison to its previous forecast of nearly 2%.”
SunTrust Banks (NYSE:STI) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $49.00 target price on the stock. According to Zacks, “SunTrust’s cost saving strategies has borne positive results as it continues to witness a downward trend in expenses. Further, the company remains well positioned for future growth given its improving credit quality. Also, the gradually stabilizing energy sector as well as economic recovery will aid the company’s credit quality. Moreover, the company's steady capital deployment activities enhance shareholder value. However, a persistent low interest rate scenario affects the company’s top line items. NIM will continue to remain under pressure unless there is any significant increase in interest rates. Also, exposure to risky assets and increasing dependence on residential and commercial loan portfolio is expected to weigh on the company’s profitability in the near term.”
United Overseas Bank (NASDAQ:UOVEY) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $31.00 target price on the stock. According to Zacks, “UOB is a leading bank in Singapore that provides a wide range of financial services through its global network of over 500 offices in 18 countries and territories in Asia-Pacific, Western Europe and North America. It has banking subsidiaries in Singapore, Malaysia, Indonesia, Thailand and mainland China. UOB is committed to playing an active and meaningful role in the community with our focus on children, education and the arts. “
Vical (NASDAQ:VICL) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $3.50 target price on the stock. According to Zacks, “Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company’s DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. “
Wabco Holdings (NYSE:WBC) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $119.00 target price on the stock. According to Zacks, “WABCO is one of the world’s leading providers of electronic braking, stability, suspension and transmission control systems for heavy duty commercial vehicles. WABCO products are also increasingly used in luxury cars and sport utility vehicles. “
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