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
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.
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