2012-11-21 16:11:36 -
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 Analog Devices, Inc. (NYSE:
ADI). They have a $42.00 price target on the stock. Zacks' analyst wrote,
"Analog Devices is a leading supplier of analog and DSP integrated circuits.
April quarter earnings beat the Zacks Consensus estimate, but guidance was below
expectations, possibly indicating a slowdown in the communications market and
management conservatism. The company also generates a significant portion of its
revenue from the computing market, which is expected to remain relatively soft
for the rest of the year. We think that these negatives and the competitive
pressures across several markets largely offset the company's strong market
focus on secular growth markets. Since valuation remains fair, we
are reiterating our Neutral recommendation on the shares."
Zacks reiterated its neutral rating on shares of Autodesk (NASDAQ: ADSK). They
have a $33.00 price target on the stock.
UBS AG upgraded shares of First Majestic Silver (NYSE: AG) from a neutral rating
to a buy rating.
Exane BNP Paribas reiterated its underperform rating on shares of Applied
Materials, Inc. (NASDAQ: AMAT). They have a $12.00 price target on the stock.
Citigroup downgraded shares of America Movil S.A.B. de C.V. (NYSE: AMX) from a
buy rating to a neutral rating. Their analysts now have a $25.00 price target on
the stock, down previously from $30.00.
Zacks reiterated its neutral rating on shares of Anadarko Petroleum (APC). They
have a $76.00 price target on the stock. Zacks' analyst wrote, "Anadarko
Petroleum Corporation's bottom-line surpassed the Zacks Consensus Estimate while
sales missed it in the third quarter 2012. Higher oil and condensate sales
partially offset by sluggish natural gas and natural gas liquids sales resulted
in mixed results. We believe Anadarko's Golfinho and Atum prospects will
continue to drive growth. With additional recoverable reserves, the Wattenburg
play will also be a major element augmenting the company's top-line going
forward. Besides, a strong liquidity profile and successful debt management will
help in achieving the targeted business goals. However, unexpected outages or
accidents, a weak U.S. macro environment and commodity price volatilities are
generic risks that Anadarko needs to watch out for."
Zacks reiterated its neutral rating on shares of AutoZone, Inc. (AZO). They have
a $401.00 price target on the stock. Zacks' analyst wrote, "AutoZone is focused
on an aggressive share repurchase program and intends to grow sales through
expansion of hub stores. The company posted a 17.8% year-over-year increase in
earnings per share to $8.46 for the fourth quarter of fiscal 2012, which
exceeded the Zacks Consensus Estimate by $0.07. Domestic same store sales (sales
for stores open at least one year) increased 2.1% in the quarter. However, we
remain concerned about the rising gas prices and stiff competition that may
impact the company's margins. As such, we continue with our Neutral
recommendation on the stock and set a target price of $401.00. "
Imperial Capital initiated coverage on shares of BE Aerospace, Inc. (BEAV). They
issued an outperform rating on the stock and set a $56.00 price target. They
wrote, "BEAV is well positioned in the broader Aerospace & Defense (A&D) sector,
and in our view justifies the premium at which the stock trades. First, the
company has little defense exposure. We believe that defense sales represent
just 5-10% of total company sales, which is a net positive as the outlook for
defense spending will likely deteriorate as fiscal constraints and budget
priorities put additional pressure on defense budgets over the next 2-4 years,
in our view."
Brean Murray initiated coverage on shares of Biogen Idec Inc. (BIIB). They
issued a buy rating on the stock.
Citigroup initiated coverage on shares of BRF Brasil Foods (BRFS). They issued a
buy rating on the stock.
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: email@example.com
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