2008-06-17 01:36:33 -

- Zacks Equity Research highlights Quicksilver Resources (NYSE: KWK) as the Bull of the Day and Zions Bancorporation (Nasdaq: ZION) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on CAI International (NYSE: CAP), CV Therapeutics (Nasdaq: CVTX) and National Semiconductor (NYSE: NSM). Full analysis of all these stocks is available at at.zacks.com/?id=2676.

Here is a synopsis of all five stocks:

Bull of the Day: Quicksilver Resources (NYSE: KWK)

Quicksilver Resources' strategy of acquiring acreage on the cheap and subsequently developing its low risk reserve base allows it to have industry leading F&D costs and operating margins that are well above its competitors. We are upgrading KWK from a Hold to a Buy with a price target of $52.00 per share and are increasing our 2008 and 2009 earnings estimates to $1.47 from $1.16 per share and from $1.59 to $1.99 per share, respectively.

Bear of the Day: Zions Bancorporation (Nasdaq: ZION)

ZION's 1Q08 net earnings of $0.98 per diluted share were substantially below our estimate. The earnings for the quarter were mostly impacted by the sharp increase in provisions coupled with impairment and valuation losses on securities purchased from Lockhart Funding. Continued weakness in the southwestern residential real estate markets, where the company has a significant exposure, continued to hurt the results. After reviewing the results, we have lowered our EPS estimates, based on our concerns for further credit deterioration. We are maintaining our Sell recommendation on the shares of ZION with a six-month target price of $34.00 per share.

Latest Posts on the Zacks Analyst Blog:

CAI International (NYSE: CAP)

We are continuing our Hold on CAI International, Inc., but raising our target price to $17.50. CAP posted first quarter diluted EPS of $0.31, compared to a $0.19 loss per share last year and above both consensus and our estimate of $0.28, as both the tax rate and expense growth were lower than expected.

We are raising our 2008 diluted EPS estimate to $1.40 from $1.32, near the midpoint of revised EPS guidance of $1.38-1.43 (up from $1.30-1.35). Our initial 2009 EPS estimate is $1.70.

CV Therapeutics (Nasdaq: CVTX)

Several big regulatory decisions are expected for CV Therapeutics Inc. in 2008. The U.S. Food and Drug Administration is set to rule on three separate applications for expanding the company's Ranexa label in July. The first-line angina sNDA and the anti-arrhythmic claim look solid in our view, though we are cautious on the full NDA in diabetics. Our call is that investors should Hold onto the shares at this level as fundamentals are improving.

Despite growing Ranexa sales, CVT will need approval for the first-line indication to reach profitability perhaps in 2010. The approval of Ranexa in Europe is also a key positive event to watch in June 2008. Longer-term, however, we continue to see little overall movement in the shares until investors can get a better handle on the total peak sales potential for Ranexa worldwide.

National Semiconductor (NYSE: NSM)

National Semiconductor is an OEM of analog and mixed signal integrated circuits. May quarter revenue was in-line with consensus expectations, although the EPS exceeded.

Forward revenue guidance is flat to up 3% Q1. New higher-margin products continue to grow in the mix, and management has refocused R&D (research & development) into areas that should sustain these margins and even expand from current levels. Valuation remains attractive in our opinion. Consequently, we are reiterating our Buy rating on NSM shares.

Get the full analysis of all these stocks by going to at.zacks.com/?id=2649.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

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Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

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Mark Vickery
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