2012-12-21 16:18:00 -
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 BP PLC (BP). They have a $44.00
price target on the stock. Zacks' analyst wrote, "We are maintaining our
recommendation on BP Plc at Neutral. The company maintains a leadership position
among the global offshore drillers despite the oil spill in 2010. Its strategy
of offloading non-core upstream properties will prove beneficial over time,
while creating a portfolio with potentially stronger growth from a smaller base.
Additionally, BP's natural gas operations will be aided by its positions in the
Woodford, Haynesville, Fayetteville, Eagle Ford and Utica shale plays, along
with its vast resource base and profound knowledge in unconventional
However, earnings decreased from the prior-year quarter due to low oil and gas
prize realization. Further, headwinds from a number of global macro issues
including sovereign debt risks, defaults on sovereign credits, and changes in
U.S. monetary, fiscal and tax policies are concerns moving forward. "
Global Hunter Securities initiated coverage on shares of Bristow Group Inc.
(BRS). They issued an accumulate rating on the stock and set a $63.00 price
Feltl & Co. upgraded shares of Cabela's Incorporated (CAB) from a hold rating to
a buy rating. They noted that the move was a valuation call. They noted that the
move was a valuation call.
Barclays Capital raised its price target on shares of Chicago Bridge & Iron
Company (CBI) from $49.00 to $53.00. They have an overweight rating on the
Zacks downgraded shares of Crown Castle (CCI) from an outperform rating to a
neutral rating. Their analysts now have a $74.00 price target on the stock.
Zacks' analyst wrote, "We downgrade our recommendation on Crown Castle to
Neutral based on its extremely high level of current valuation. The stock price
has soared nearly 62% in the last year. The company posted solid financial
results for the third quarter of 2012. Management has raised 2012 adjusted
EBITDA guidance. Massive growth of mobile broadband, higher usage of smartphones
and tablets together with increased deployment of 4G LTE networks are the long-
term positives for the wireless tower industry. We believe future financials of
the company will be driven by substantial demand for more tower space to
facilitate high-speed wireless networks. In this respect, the newly acquired T-
Mobile wireless towers will enable Crown Castle to improve both its top and
bottom line. Our long-term view regarding wireless tower industry remains
intriguing and we believe Crown Castle is well positioned to capitalize on these
William Blair initiated coverage on shares of Church & Dwight Co Inc (CHD). They
issued an outperform rating on the stock.
Zacks reiterated its neutral rating on shares of Chesapeake Energy (CHK). They
have a $18.00 price target on the stock. Zacks' analyst wrote, "We are
maintaining our Neutral recommendation on Chesapeake Energy shares. The company
registered higher production during the third quarter on lower operating costs.
It expects to generate high volume growth in 2012 and 2013. In particular,
Chesapeake plans to invest heavily in the development of its holdings in the
Eagle Ford Shale, Granite Wash and Mississippi Lime. We also appreciate
management's focus on the Utica Shale, which is expected to contribute highly to
the company's growth momentum going forward. However, these positives are
negated by the low gas price environment that shattered the company's financial
strength. Embattled Chesapeake is trying hard to minimize capital expenditure
through its divestiture program. Chesapeake also exhibits a weak financial
profile with huge debt balance. As such, we see the stock performing in line
with the broader market. "
JPMorgan Chase upgraded shares of Bancolombia S.A. (CIB) from an underweight
rating to a neutral rating.
Susquehanna downgraded shares of Compuware (CPWR) from a positive rating to a
neutral rating. Their analysts now have a $11.00 price target on the stock.
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