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Equity Brief: Ratings Changes for December 21st: EMN, ERIC, ET, ETR, EXAS, EXM, FANG, FDX


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Copyright © Thomson Reuters 2012. All rights reserved.
2012-12-21 16:23:00 -

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:

Gilford Securities upgraded shares of Eastman Chemical Co (EMN) from a hold
rating to a buy rating.

Zacks reiterated its neutral rating on shares of Telefonaktiebolaget LM Ericsson
(ERIC). They have a $11.00 price target on the stock. Zacks' analyst wrote,
"High demand for wireless devices supports Ericsson's overall growth in the
industry. The company also ventured into various new acquisitions to increase
its revenue yield in the quarters ahead. Moreover, Ericsson s earnest attempt to
reduce cost is reflected in the company s reduced SG&A expenses. However,
sluggish sales trends, currency fluctuations and cost inflation are issues that
greatly concern us. We do not, therefore, expect any 
chief catalyst to thrust the stock higher in the near term. Thus, we prefer to maintain our Neutral recommendation." Raymond James upgraded shares of ExactTarget (ET) from an outperform rating to a strong-buy rating. Raymond James now has a $31.00 price target on the stock. Roth Capital initiated coverage on shares of ExactTarget (ET). They issued a buy rating on the stock and set a $26.00 price target. Zacks reiterated its neutral rating on shares of Entergy Corp. (ETR). They have a $67.00 price target on the stock. Zacks' analyst wrote, "Entergy is well positioned thanks to its geographically-diverse mix of regulated and merchant operations, along with its strong balance sheet. The company is focused on maximizing its shareholder value through steady investment for rate base growth, as well as through its ongoing stock buyback program and incremental dividend. Looking forward, Entergy is making steady progress to spin off its electric- transmission business and merge the operation with ITC Holdings Corporation. However, despite these factors, our long-term recommendation remains Neutral on the company. We are cautious due to tepid growth for its competitive business on account of lukewarm power demand in the Northeast along with pending regulatory approvals. Thus we maintain our Neural recommendation on the stock with a target price of $67.00." Mizuho initiated coverage on shares of EXACT Sciences Co. (EXAS). They issued a buy rating on the stock and set a $13.00 price target. Zacks reiterated its neutral rating on shares of Excel Maritime Carriers Ltd (EXM). They have a $0.50 price target on the stock. Zacks' analyst wrote, "We maintain our long term Neutral recommendation on Excel Maritime ahead of its third quarter of fiscal 2012 financial results. The company has delayed to declare its third quarter results. Meanwhile, the stock price has plummeted over 80% in the last year. This was primarily due to the gloomy prospects of the drybulk shipping industry. This sector is facing serious challenges since the spot vessel rates collapsed significantly. We believe the sole reason for this dismal condition is the sheer increase of vessels under operation resulting in intense price competition. The spot rates of drybulk vessels have fallen to such a low level that even surging demand for commodities in the Asian markets failed to offset the loss of the vessel owners. Consequently, the voyage revenue declined significantly. However, we believe this low level of valuation may provide a cushion for further downslide of the stock price. " Raymond James initiated coverage on shares of Diamondback Energy Inc (FANG). They issued a market perform rating on the stock. Deutsche Bank reiterated its buy rating on shares of FedEx (FDX). They have a $117.00 price target on the stock. FBR Capital initiated coverage on shares of F5 Networks (FFIV). They issued an outperform rating on the stock and set a $120.00 price target. 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#1667145]


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