Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Equity Brief: Ratings Changes for December 21st: APA, ARCC, ARRS, BBBY, BCEI, BIG, BIIB, BKR


Print article Print article
Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-21 16:16:03 -

A number of stocks were upgraded and downgraded by equities research analysts
today, as reported by Analyst Ratings Network ( bit.ly/equitybriefdaily)
and Equity Brief:

Zacks reiterated its neutral rating on shares of Apache (APA). They have a
$84.00 price target on the stock. Zacks' analyst wrote, "We like Apache's large
geographically-diversified reserve base, its balanced exposure to natural gas
and crude oil, and its multiyear trends in reserve replacement and production
growth. A pristine balance sheet helps the company to capitalize on investment
opportunities and strategic acquisitions, thereby further improving growth
visibility. However, we see limited upside potential for shares, taking into
consideration Apache's sensitivity to gas/oil price volatility, its drilling
results, costs, geo-political risks and project timing delays. As such, we
expect Apache to perform in line with the broader market 
and, therefore, maintain our Neutral recommendation." Barclays Capital reiterated its equal weight rating on shares of Ares Capital (ARCC). Needham & Company raised its price target on shares of Arris Group, Inc. (ARRS) from $15.00 to $18.00. They have a buy rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call. Deutsche Bank lowered its price target on shares of Bed Bath & Beyond Inc. (BBBY) from $75.00 to $65.00. They have a buy rating on the stock. Bank of America downgraded shares of Bed Bath & Beyond Inc. (BBBY) from a buy rating to a neutral rating. Their analysts now have a $65.00 price target on the stock, down previously from $80.00. They wrote, "3Q12 results disappointed (again), with the Q3 comp coming in toward the low end of guidance and a lower tax rate providing a 3 cent benefit. With an increase in couponing, sales mix shift, and its recent acquisitions, BBBY is searching to find a new normal in terms of comps and margins, but until growth stabilizes, we expect valuations to remain depressed. Visibility is low at this point, with no near-term positive catalysts for meaningful reacceleration in sales or margin trends other than weaker comparisons in 2013. Despite our positive view on BBBY's longer-term outlook, we think it could remain a value trap until visibility improves and see better upside in PIR and WSM among home furnishings retailers." Stifel Nicolaus raised its price target on shares of Bonanza Creek Energy Inc (BCEI) from $30.00 to $35.00. They have a buy rating on the stock. Citigroup initiated coverage on shares of Big Lots, Inc. (BIG). They issued a buy rating on the stock and set a $36.00 price target. They wrote, "While BIG is on pace to post its first annual comp decline in 14 years in 2012, we expect the company to pick itself up in 2013 and return to positive comps and double-digit EPS growth. The merchandising improvements made under John Martin's leadership since August and BIG's turnaround efforts in Canada contribute to our above- consensus 2013 EPS estimate of $3.27, and new traffic-driving initiatives provide incremental upside to our current forecasts. With the stock trading at 8.6x next year's EPS, we see an opportunity to own BIG at an inflection point in its story." Zacks reiterated its neutral rating on shares of Biogen Idec Inc. (BIIB). They have a $159.00 price target on the stock. Zacks' analyst wrote, "Biogen's third quarter EPS of $1.90 was well above the Zacks Consensus Estimate of $1.61 and the year-ago EPS of $1.59. Higher revenues boosted earnings. Third quarter 2012 revenues increased 6% to $1.385 billion, just above the Zacks Consensus Estimate of $1.384 billion. Biogen increased its earnings outlook for 2012 again and now expects EPS in the range of $6.40 - $6.50. Key products, Avonex and Tysabri, should continue contributing significantly to sales. BG-12 should help drive long-term growth. We are also pleased with Biogen's efforts to streamline its pipeline. We remain Neutral on the stock. We expect competition in the MS market to increase with the entry of Sanofi's Aubagio. " FBR Capital reiterated its market perform rating on shares of Michael Baker Co. (BKR). They have a $25.00 price target on the stock. Standpoint Research downgraded shares of BlackRock, Inc. (BLK) from a buy rating to a hold rating. Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at bit.ly/equitybriefdaily Content and Media Contact: newseditor@equitybrief.net This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Brief via Thomson Reuters ONE [HUG#1667140]


Press Information:




Contact Person:


Disclaimer: © 2014 Thomson Reuters. The press releases or report contained herein is protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Thomson Reuters's, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser