Analysts’ Updated EPS Estimates for October, 12th (ADVM, ALE, BOLD, CZZ, ESV, HAWK, JILL, JNPR, KNX, MRK)
Raymond James Financial, Inc. initiated coverage on shares of Adverum Biotechnologies (NASDAQ:ADVM). The firm issued an outperform rating and a $6.00 price target on the stock.
Allete (NYSE:ALE) had its hold rating reissued by analysts at Williams Capital. Williams Capital currently has a $79.00 target price on the stock.
Raymond James Financial, Inc. assumed coverage on shares of Audentes Therapeutics (NASDAQ:BOLD). The firm issued a market perform rating on the stock.
Cosan Limited (NYSE:CZZ) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “In the last year, Cosan's American Depository Receipts (ADR) outperformed the industry. We believe that Cosan is exposed to risks from geo-political issues, foreign exchange variations and high operating costs. Also, unfavorable weather conditions, especially drought, frost and heavy rainfall, can severely impact sugarcane production and hence, impact the company's financials. Exiting second-quarter 2017, the company had loans and borrowings of R$20.5 billion. Such high debts, if unchecked, might raise the company's financial obligations.”
Ensco Plc (NYSE:ESV) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Since 2016, cash flow from core operations for Ensco has been declining steeply with no sign of improvement. Also, the company’s balance sheet started to show declining cash balances reflecting weak financials. We believe that reduced rig operating days following lower utilization of floaters continues to hurt Ensco’s net cashflow. Average dayrates for the company’s rigs also deteriorated during second quarter, supported deteriorating cashflow. Eventually, the company is paying dividend yield much lesser than Zacks Oil Drilling industry. All those weaknesses are reflected in Ensco’s unimpressive pricing chart snapshot. Over the past year, the company fell 33.1%, underperforming the industry’s 22.4% decline.”
Blackhawk Network Holdings (NASDAQ:HAWK) had its market perform rating reissued by analysts at Raymond James Financial, Inc..
J.Jill (NASDAQ:JILL) was downgraded by analysts at Morgan Stanley from an overweight rating to an equal weight rating.
Juniper Networks (NYSE:JNPR) was downgraded by analysts at Nomura from a buy rating to a neutral rating.
J P Morgan Chase & Co started coverage on shares of Swift Transportation (NYSE:KNX). The firm issued a neutral rating and a $39.00 target price on the stock.
Merck & (NYSE:MRK) had its outperform rating reiterated by analysts at BMO Capital Markets. BMO Capital Markets currently has a $72.00 target price on the stock.
Navient Corporation (NASDAQ:NAVI) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of Navient have underperformed the industry over the last six months. The company does not have an impressive earnings surprise history. It missed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. Also, the U.S. student loan industry is currently under heightened regulatory scrutiny over alleged anti-consumer practices. Navient, which services large number of student loans, is under regulatory claims and litigation burden owing to its practices in handling loans. Recently, Pennsylvania attorney general, Josh Shapiro, has filed a lawsuit against Navient, accusing the company of engaging in deceptive lending practices, which have cost billions of dollars to borrowers. Moreover, SEC investigation is also ongoing related to possible insider trading in a particular transaction. However, it benefits from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses.”
Raymond James Financial, Inc. initiated coverage on shares of Spark Therapeutics (NASDAQ:ONCE). They issued an outperform rating and a $96.00 price target on the stock.
Raymond James Financial, Inc. assumed coverage on shares of REGENXBIO (NASDAQ:RGNX). They issued an outperform rating and a $39.00 target price on the stock.
LendingTree (NASDAQ:TREE) was downgraded by analysts at BWS Financial from a buy rating to a sell rating. They currently have $194.00 price target on the stock.
Raymond James Financial, Inc. started coverage on shares of Voyager Therapeutics (NASDAQ:VYGR). The firm issued an outperform rating and a $35.00 target price on the stock.
Weibo Corporation (NASDAQ:WB) was downgraded by analysts at Zacks Investment Research from a strong-buy rating to a hold rating. According to Zacks, “Weibo Corporation operates as a social media platform for people to create, distribute and discover Chinese-language content. The Company operates in two segments: Advertising and Marketing Services, and Other Services. The company offers self-expression products; social products; discovery products; notifications; third-party online games. Weibo also develops mobile apps, such as Weibo Headlines; Weibo Weather and WeiDisk. It also provides advertising and marketing solutions, including social display ads and promoted marketing products. Weibo Corporation is headquartered in Beijing, China. “
Waddell & Reed Financial (NYSE:WDR) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Waddell & Reed's shares have outperformed the industry over the last six months. The company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. A consistent decline in expenses continues to be a positive. As the company is making efforts to improve efficiency and optimize its operations, expenses are likely to continue witnessing a downward trend in the next few quarters. Further, its initiatives through Project E should help boosting top-line growth in the long run. Despite higher gross sales and a fall in net outflows, assets under management (AUM) continue to decline. Also, pressure on revenues is expected to hamper the company’s profitability.”
W.R. Berkley Corporation (NYSE:WRB) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Shares of W.R. Berkley underperformed the industry year to date. The company also witnessed its 2017 and 2018 estimates moving south over the last 60 days. Exposures to highly competitive insurance market along with low interest rate scenario and cat losses are dampeners. The company estimated third-quarter catastrophe losses of about $110 million. W.R. Berkley has been investing in a number of startups since 2006 as well as establishing new units, which enables it to take advantage of an improved market scenario. Formation of operating units in North and Southeast Asia is in tandem with the strategy while divestment of wholly owned investment is expected to enhance long term shareholder’s value. Its international business has potential for long-term earnings growth. Reserving discipline and strong capital position are other positives.”
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