2012-12-04 16:17:57 -
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:
Cowen downgraded shares of Infosys Technologies Ltd (INFY) from an outperform
rating to a neutral rating.
BGC Financial initiated coverage on shares of Intrepid Potash, Inc. (IPI). They
issued a hold rating on the stock.
Cantor Fitzgerald raised its price target on shares of Intuitive Surgical, Inc.
(ISRG) from $475.00 to $525.00. They have a hold rating on the stock.
Zacks upgraded shares of JAKKS Pacific, Inc. (JAKK) from an underperform rating
to a neutral rating. Zacks now has a $13.00 price target on the stock. Zacks'
analyst wrote, "Jakks Pacific cut its fiscal guidance prior to the third-quarter
earnings owing to a tough retail environment. Additionally, decelerating
top- and bottom-line miss in the third quarter of 2012, unfavorable
product mix and wage inflation in China add further worry. The uncertainty
around the looming fiscal cliff in the U.S. along with global economic turmoil
due to the Eurozone crisis will likely keep consumers preoccupied and less
inclined towards entertainment activities. However, with strong product
launches, possible acquisitions, strategic partnerships, resolution of
litigation and finances, Jakks Pacific is well poised for long-term growth.
Also, we believe, much of the bearish thesis is reflected at the current price.
The ongoing fourth quarter is also seasonally stronger for the retailers due to
holiday season. Hence, we upgrade the recommendation from Underperform to
ISI Group upgraded shares of Kilroy Realty Co. (KRC) from a neutral rating to a
buy rating. ISI Group now has a $51.00 price target on the stock, up previously
Craig Hallum initiated coverage on shares of Las Vegas Sands Corp. (LVS). They
issued a buy rating on the stock.
Barclays Capital initiated coverage on shares of Medivation Inc (MDVN). They
issued an equal weight rating on the stock.
Craig Hallum initiated coverage on shares of MGM Resorts (MGM). They issued a
hold rating on the stock.
Brinson Patrick initiated coverage on shares of MannKind Co. (MNKD). They issued
an outperform rating on the stock and set a $6.00 price target. They wrote,
"MannKind Corporation's rapid-acting insulin, Afrezza, is currently in two Phase
3 pivotal trials with their handheld drug delivery device called Dreamboat. We
believe the two Complete Response letters they received with their previous
device has created a buying opportunity for investors today. Following a
completion of a financing that carries them through 2013, we recommend investors
begin accumulating MNKD shares."
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