2012-12-21 16:28:00 -
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:
Guggenheim initiated coverage on shares of Magna International Inc. (MGA). They
issued a neutral rating on the stock.
Cleveland Research upgraded shares of Mohawk Industries, Inc. (MHK) from a
neutral rating to a buy rating.
Maxim Group downgraded shares of Mellanox Technologies, Ltd. (MLNX) from a buy
rating to a hold rating.
Needham & Company initiated coverage on shares of MagnaChip Semiconductor Co.
(MX). They issued a strong-buy rating on the stock and set a $24.00 price
Zacks upgraded shares of Myriad Genetics (MYGN) from a neutral rating to an
outperform rating. Zacks now has a $33.00 price target on the stock. Zacks'
analyst wrote, "Myriad geared into fiscal
2013 on a positive note with EPS of
$0.36 (up 24%) and revenues of $133.4 million (up 21%) both sailing past the
Zacks Consensus Estimates of $0.32 and $130 million respectively. Accordingly,
the company raised its fiscal 2013 guidance which is another positive takeaway.
Myriad's flagship product, Bracanalysis, continued to record robust growth while
BART test emerged as a major catalyst to accelerate growth in the future. The
company strategy of pipeline development and expanding into Europe is also
encouraging. Besides, a strong cash balance enables the company to repurchase
shares, expand into new markets and launch more products. Based on the strong
growth potential of Myriad, we upgrade the stock to Outperform. "
DA Davidson reiterated its neutral rating on shares of NIKE, Inc. (NKE). They
have a $104.00 price target on the stock. They wrote, "NIKE reported revenue and
EPS of $5.955 billion and $1.14, versus consensus of $5.970 billion and $1.00
and our estimates of $5.993 billion and $1.02. Gross margin declined 36bp year-
over-year (y/y) to 42.5%, but was better than guidance of down ~75bp. Gross
margin benefitted from pricing and materials costs, offset by higher labor
costs, unfavorable currency headwinds and negative mix shift. SG&A of $1.836
billion grew 6.1% y/y and came in $44 million below our estimate...We are
maintaining our NEUTRAL rating and raising our price target to $108 (previously
$104), based on 18x our revised FY14 EPS estimate of $6.02. We believe NKE
deserves its premium valuation, but the combination of limited upside to our
target and heightened end-market uncertainty in several regions leaves us on the
sidelines for now."
Janney Montgomery Scott downgraded shares of NIKE, Inc. (NKE) from a buy rating
to a neutral rating.
Benchmark Co. raised its price target on shares of Nielsen Hldg (NLSN) from
$34.00 to $36.00. They have a buy rating on the stock.
Deutsche Bank initiated coverage on shares of New York Mortgage Trust, Inc.
(NYMT). They issued a buy rating on the stock and set a $7.25 price target.
Keefe, Bruyette & Woods downgraded shares of NYSE Euronext (NYX) from an
outperform rating to a market perform rating.
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