Equity Brief: Ratings Changes for November 15th: T, TCAP, TEA, TJX, TKR, TWC, VELT, VMW, VZ
2012-11-15 16:17:55 -
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:
National Securities initiated coverage on shares of AT&T Inc. (NYSE: T). They
issued a neutral rating on the stock.
Stifel Nicolaus upgraded shares of Triangle Capital Cor (NASDAQ: TCAP) from a
hold rating to a buy rating. Stifel Nicolaus now has a $26.00 price target on
Raymond James upgraded shares of Triangle Capital Cor (NASDAQ: TCAP) from an
outperform rating to a strong-buy rating. Raymond James now has a $26.50 price
target on the stock.
KeyBanc downgraded shares of Teavana (NYSE: TEA) from a buy rating to a hold
rating. Their analysts now have a $24.00 price target on the stock. They wrote,
"The proposed $15.50/share (53% premium vs. the closing price on November
13, 2012) acquisition of Teavana Holdings, Inc. (TEA-NYSE) by Starbucks Corp.
(SBUX-NASDAQ) validates our thesis that the Company had attractive unit
economics, a leading position in secularly attractive tea space, and a unique
store environment. We downgrade Teavana to HOLD, accordingly. The purchase price
represents an approximate 19.9x P/E on our 2013 EPS estimate compared to 20.8x
P/E for the active and healthy lifestyle peer group. CEO Andrew Mack had
approximately 56% ownership. This, coupled with the ownership of Apax Partners
(about 16%), makes closure of the transaction a virtual certainty."
William Blair downgraded shares of Teavana (NYSE: TEA) from an outperform rating
to a market perform rating.
Zacks reiterated its neutral rating on shares of TJX Companies Inc (NYSE: TJX).
They have a $44.00 price target on the stock.
SunTrust initiated coverage on shares of Timken (NYSE: TKR). They issued a buy
rating on the stock and set a $54.00 price target.
JPMorgan Chase upgraded shares of Time Warner Cable (TWC) from a neutral rating
to an overweight rating. JPMorgan Chase now has a $110.00 price target on the
stock, up previously from $100.00. They wrote, "TWC is the fourth largest
provider of video and third largest in broadband data in the US, and in the next
year we believe it can continue to grow broadband share while slowing its video
share losses. The company offers an 8.4% fully taxed FCF yield, and we expect it
to return 13% of today's market cap in dividends and stock repurchases in 2013.
While TWC's video business remains challenged vs its closest peer Comcast, the
potential for that business to recover over time offers significant upside to
shares beyond our target."
Needham & Company downgraded shares of Velti (VELT) from a buy rating to a hold
Hilliard Lyons initiated coverage on shares of VMware, Inc. (VMW). They issued a
buy rating on the stock and set a $110.00 price target. They wrote, "We initiate
coverage of VMW with a Long-term Buy investment rating, Suitability rating-3 and
$110 price target. High priority, disruptive technology provider, tightly
integrated solutions with majority owner EMC; VMware is the leading global
provider of virtualization software. VMW has a history of delivering quality
virtualization software through vSphere. Future growth is expected through cloud
infrastructure and management software and a cloud application platform. VMW has
an experienced management team, solid financials and a strong future that is set
to achieve similar results in adjacent markets beyond core server
virtualization, in our opinion."
National Securities initiated coverage on shares of Verizon (VZ). They issued a
buy rating on the stock and set a $50.00 price target.
Bank of America downgraded shares of Walter Energy (WLT) from a neutral rating
to an underperform rating. Their analysts now have a $31.00 price target on the
stock, down previously from $40.00.
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