Arrow Electronics (NYSE:ARW) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $91.00 target price on the stock. According to Zacks, “Estimates for Electronic component distributor, Arrow Electronics have not moved around much of late. Original equipment manufacturers, contract manufacturers and commercial customers are selecting Arrow’s strong distribution channels for marketing their products, which is driving its revenues. We believe that the company’s core strength in providing best-in-class services and easy-to-acquire technologies should drive growth in the long run. Moreover, the company has secured a significant market share through a broad portfolio of products and services, and continued efforts to maximize consumer satisfaction. Additionally, incremental sales from strategic acquisitions and partnerships are expected to boost the top line. The stock has outperformed the industry in the last one year. However, an uncertain economic environment, high debt burden and competition remain the concerns.”
Broadcom (NASDAQ:AVGO) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $284.00 target price on the stock. According to Zacks, “Broadcom is benefiting from strong demand of its wireless solutions and expanding product portfolio, which makes it well-positioned to address the needs of rapidly growing technologies like IoT and 5G. Broadcom has recently inked financing agreements with various institutions to fund Qualcomm’s proposed takeover. If completed, then this deal will make it the third-largest chipmaker, behind Intel and Samsung. The company also has strong ties with leading OEMs across multiple target markets that will help it to gain key insights into the requirements of customers. Moreover, the upcoming launch of the next generation WiFi products is expected to be a growth driver for the segment. However, customer concentration, intensifying competition, integration risks due to frequent acquisitions and leverage balance sheet are key headwinds.”
3D Systems (NYSE:DDD) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “3D Systems has an extremely volatile earnings history, oscillating between incredible beats and abysmal misses in the trailing four quarters. Over the past six months, 3D Systems’ shares have grossly underperformed the industry average. Unfavorable macroeconomic factors such as slowdown, inflation, currency fluctuations and commodity prices impacted the company’s performance. This apart, escalating R&D, IT and go-to-market expense may prove as significant headwinds, going forward. However, the company has been benefiting from favorable 3D printing industry fundamentals, led by rising demand for diverse application of this novel technology across several domains. Going forward, strong demand for production printers, materials and software, as well as healthcare solutions will likely act as major catalysts for growth.We also believe the acquisition of Vertex-Global Holding B.V will unlock multiple opportunities for the company.”
Darden Restaurants (NYSE:DRI) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $106.00 price target on the stock. According to Zacks, “Darden’s shares outpaced its industry so far this year. Most of its brands have witnessed growth over the past few quarters, given various sales initiatives like simplifying kitchen systems, operational excellence, menu innovation along with technology-driven moves. The acquisition of Cheddar's has added value to Darden's portfolio of differentiated brands. Further, the company’s efforts to check costs are commendable. Backed by these efforts, Darden’s second-quarter fiscal 2018 earnings topped the Zacks Consensus Estimate for the 13th consecutive quarter. Yet, rising labor costs and a non-franchised business model are likely to dampen the company’s profits while a soft industry backdrop might pressurize comps. Current-quarter and current-year estimates have moved northward over the past two months, reflecting analysts’ optimism surrounding the stock.”
Freehold Royalties (TSE:FRU) was upgraded by analysts at Canaccord Genuity from a hold rating to a buy rating.
Fortinet (NASDAQ:FTNT) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $61.00 price target on the stock. According to Zacks, “Estimates for Fortinet have remained stable of late. Notably, the company has outperformed the industry in the last one year. Going ahead, we believe that the company’s strategy of focusing on selling subscription-based services will enable it to generate more stable revenues and help in expanding margins. Furthermore, acquisitions are a major positive for Fortinet as these help it to strengthen its product portfolio and capabilities, thereby boosting its top-line performance. Nonetheless, we are slightly concerned over the company’s declining revenue growth rate. Notably, over the last six quarters, the company’s revenue growth rates have been around 20%, which are significantly lower than its previous rates of over 30%. Also, a tepid first quarter revenue outlook makes us slightly cautious about its near-term performance.”
JAKKS Pacific (NASDAQ:JAKK) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “JAKKS Pacific’s adjusted loss of 61 cents per share was wider than the Zacks Consensus Estimate of a loss of 11 cents and the year-ago quarter’s loss of 47 cents. Net sales in the fourth quarter totaled $136.6 million, lagging the consensus mark by 12.4% and falling 18.2% year over year. The challenging industry scenario for traditional toymakers has affected JAKKS Pacific’s fourth-quarter results. Tighter retail inventory management and the recent Toys ‘R’ Us bankruptcy filing added to the woes. Notably, the company’s earnings have been under pressure, incurring losses in nine of the 12 trailing quarters. Rising costs, adverse forex translations, age compression and the shift to alternative modes of entertainment remain threats to the top line. Consequently, shares of the company have underperformed its industry in the past year.”
Model N (NYSE:MODN) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $21.00 target price on the stock. According to Zacks, “Model N reported stellar first-quarter results, where in both revenues and earnings increased year over year. The successful integration of Revitas boosted Model N’s performance as well as its customer base. Management is also optimistic about the steady progress in the company’s transformation to a 100% Software-as-a-Service (SaaS) based model. Model N has outperformed the industry in the last one year. The Revenue Cloud offering for med-tech, pharma and high tech companies is also gaining traction, driving expansion in customer base. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. However, the company is facing stiff competition from peers which remains a major headwind.”
Everest Re Group (NYSE:RE) was upgraded by analysts at Zacks Investment Research from a hold rating to a strong-buy rating. They currently have $302.00 price target on the stock. According to Zacks, “Everest Re has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. Strategic endeavors to ramp up growth pave way for long-term improvement. It is divesting underperforming business and strengthening reserves. Banking on favorable operational performance, the company enjoys disciplined capital management strategy. A competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. Shares of Everest Re have underperformed the industry in a year’s time. With respect to quarterly results, Everest Re’s fourth-quarter 2017 earnings outpaced the Zacks Consensus Estimate and improved year over year on strong segmental performance and higher revenues.”
WPT Industrial Real Estate Investment (TSE:WIR.U) was upgraded by analysts at Scotiabank from a sector perform rating to an outperform rating. They currently have C$14.50 target price on the stock, up from their previous target price of C$13.50.
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