Equity Brief: Ratings Changes for December 13th: SIX, SLAB, SNTA, SXC, TIE, TSO, UTHR, V
2012-12-13 16:30:13 -
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:
Miller Tabak raised its price target on shares of Six Flags Entertainment Corp
(SIX) to $70.00. They have a buy rating on the stock. They wrote, "Yesterday,
Six Flags (SIX: $62.71) announced that the company has priced $800 million of
senior unsecured notes due 2021 at 5.25% while last week Six Flags successfully
refinanced $600 million of its senior secured credit facility and lowered its
borrowing rate by 0.25% to Libor plus 3.0%. The company expects to use the
proceeds from the offering to prepay $350 million of its currently outstanding
senior secured loans as well as to purchase $500 million of stock through 2015,
which is incremental to the $82 million currently available under the buyback
program approved in January 2012. The close of the senior unsecured note
offering is expected to occur on December 21, 2012 concurrently with the close
of the amended senior secured credit facility."
Citigroup raised its price target on shares of Silicon Laboratories (SLAB) from
$48.00 to $57.00. They have a buy rating on the stock. They wrote, "We increase
C13 EPS to $2.66 from $2.43 with 6.5% higher sales and 50bps lower GM
contributing to the variance. . We believe higher multiples are now appropriate
for SLAB given: a) demonstrated above average and macro independent sector
growth rates; and b) acquisition premium."
Brean Murray initiated coverage on shares of Synta Pharmaceuticals Corp. (SNTA).
They issued a buy rating on the stock and set a $12.00 price target.
BB&T downgraded shares of Suncoke Energy Inc (SXC) from a buy rating to a hold
JPMorgan Chase downgraded shares of Titanium Metals Corp (TIE) from an
overweight rating to a neutral rating. Their analysts now have a $16.50 price
target on the stock, down previously from $17.00.
Credit Suisse upgraded shares of Tesoro Co. (TSO) from a neutral rating to an
outperform rating. Credit Suisse now has a $60.00 price target on the stock, up
previously from $53.00.
Goldman Sachs downgraded shares of United Therapeutics (UTHR) from a neutral
rating to a sell rating. Their analysts now have a $50.00 price target on the
Oppenheimer raised its price target on shares of Visa Inc. (V) from $150.00 to
$170.00. They have an outperform rating on the stock.
B. Riley downgraded shares of Veeco Instruments Inc. (VECO) from a buy rating to
a neutral rating. Their analysts now have a $31.00 price target on the stock,
down previously from $35.00.
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