Equities Research Analysts’ Updated EPS Estimates for December, 5th (ABAX, AGIO, AMTD, BLK, BSTI, BUD, CNK, IRT, PBCT, PEP)
ABAXIS (NASDAQ:ABAX) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Abaxis' rising operating expenses and a weak operating margin scenario pose concerns for the company of late. Challenges like competitive bidding continue to hurt the stock. This apart, valuation remains stretched. Overall, in the last six months, Abaxis has been trading below the broader industry. However, a year-over-year increase in revenues buoys optimism. We are looking forward to improved consumable revenues that boosted veterinary sales performance at Abaxis in the quarter. Meanwhile, the company is initiating new sales and marketing strategies. In this regard, recently in September, Abaxis started shipping VetScan UA, urine chemistry analyzer. Abaxis plans additional product launches in fiscal 2018, including the VetScan FUSE connectivity system.”
Agios Pharmaceuticals (NASDAQ:AGIO) had its buy rating reaffirmed by analysts at Cann. The analysts wrote, “Agios announced on December 5, 2017 the appointment of Jacqualyn Fouse, Ph.D. to its board of directors. Dr. Fouse has served as executive chair of Dermavant since July 2017 and was previously chief operating officer of Celgene and member of Celgene’s board of directors.””
BlackRock (NYSE:BLK) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “BlackRock’s shares have outperformed the industry, in the past six months. This performance is supported by impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company is undertaking initiatives to restructure its actively managed equities business with an aim to meet changing client needs. These along with technological changes and its efforts to expand globally via acquisitions will further help top-line growth going forward. However, mounting expenses mainly due to continued rise in marketing costs is likely to hurt the bottom-line growth. Also, high dependence on overseas revenues remains a major concern.”
Oppenheimer Holdings Inc. started coverage on shares of BEST (NYSE:BSTI). Oppenheimer Holdings Inc. issued an outperform rating and a $13.00 price target on the stock.
Anheuser Busch Inbev (NYSE:BUD) was downgraded by analysts at J P Morgan Chase & Co from a neutral rating to an underweight rating.
Cinemark (NYSE:CNK) was given a $42.00 price target by analysts at Wedbush. The firm currently has a buy rating on the stock.
KeyCorp initiated coverage on shares of Independence Realty Trust (NYSE:IRT). The firm issued a sector weight rating on the stock.
People's United Financial (NASDAQ:PBCT) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $22.00 price target on the stock. According to Zacks, “Shares of People’s United have outperformed the industry in the past three months. Also, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. People’s United is steadily growing through acquisitions, which is likely to continue in the near future, given its strong balance sheet position. Also, People’s United’s improving credit quality and easing margin pressure are tailwinds. However, escalating expenses despite undertaking initiatives to curb costs remain a concern.”
Pepsico (NYSE:PEP) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “PepsiCo has been doing well on the back of significant innovation, continued momentum in Frito-Lay business, revenue management strategies, improved productivity and cost-saving initiatives, along with better market execution. Moreover, an improving economy, better industry pricing dynamics and a consistency in positive innovation bode well. It rolled out several products recently which management believes will drive sales and profits in 2017. Meanwhile, PepsiCo's shares outperformed its industry in the last three months. That said, growing health awareness has been hurting the CSD category, resulting in a 4% volume decline in the first nine months of 2017 in North America. Again, rising volatility in global markets and increasing currency headwinds may dampen growth.”
Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target boosted by Barclays PLC from $60.00 to $62.00. Barclays PLC currently has an equal weight rating on the stock.
Bio-Techne (NASDAQ:TECH) had its buy rating reaffirmed by analysts at Leerink Swann.
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