Equity Brief: Ratings Changes for December 14th: QLIK, R, RDS.A, RIGL, RJF, ROC, SAM, SAP
2012-12-14 16:27:13 -
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:
RBC Capital initiated coverage on shares of Qlik Technologies Inc (QLIK). They
issued a sector perform rating on the stock and set a $23.00 price target.
RBC Capital upgraded shares of Ryder System, Inc. (R) from an outperform rating
to a top pick rating. RBC Capital now has a $68.00 price target on the stock, up
previously from $55.00.
Credit Suisse upgraded shares of Royal Dutch Shell (RDS.A) from a neutral rating
to an outperform rating.
Citigroup downgraded shares of Rigel Pharmaceuticals, Inc. (RIGL) from a buy
rating to a neutral rating.
Keefe, Bruyette & Woods upgraded shares of Raymond James (RJF) from a market
perform rating to an outperform rating. Keefe, Bruyette & Woods now has a $44.00
price target on the stock, up previously from $41.00.
SunTrust initiated coverage on shares of Rockwood Holdings, Inc. (ROC). They
issued a buy rating on the stock and set a $53.00 price target.
UBS AG raised its price target on shares of The Boston Beer Company, Inc. (SAM)
from $99.00 to $111.00. They have a sell rating on the stock.
Goldman Sachs reiterated its sell rating on shares of The Boston Beer Company,
Inc. (SAM). They have a $123.00 price target on the stock. They wrote, "SAM
issued a press release after the close, raising its 2012 EPS guidance to $4.30-
$4.60 from $3.80-$4.20 (GS at $4.20 and consensus at $4.18), driven by higher
shipment volume and SG&A timing. The company also increased 2012 depletion
guidance to 11-13% from 8-10% prior and 2013 depletion growth projections to
10-15% from prior high single-digit guidance. We raise our estimates to reflect
higher volume growth."
Janney Montgomery Scott initiated coverage on shares of SAP Aktiengesellschaft
(SAP). They issued a buy rating on the stock.
Zacks reiterated its neutral rating on shares of Sears Holdings Corp (SHLD).
They have a $44.00 price target on the stock. Zacks' analyst wrote, "Sears
Holdings' third-quarter 2012 adjusted loss of $1.99 per share was narrower than
the loss per share of $2.55 reported in the year-ago quarter. The favorable
bottom-line comparisons from last year resulted from Sears' ongoing cost
reduction initiatives, which helped to lower selling and administrative expenses
during the quarter, offset by a decline in sales that impacted gross profits.
Further, we believe that lowering of stake in Sears Canada and divestment of
Hometown business will strengthen its liquidity position while boosting its
future growth prospect. Sears has been focusing on improving margins through
leverage on buying and occupancy expenses. However, we remain cautious over the
company's Kmart stores' performances which were significantly hit by Wal-Mart
and dollar stores' aggressive pricing and expansion strategies. Moreover,
intense competition and exposure to adverse foreign currency translations may
undermine Sears' future operating performance. Currently, we are maintaining a
long-term Neutral recommendation on the stock."
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