Research Analysts’ price target changes for Wednesday, February 27th:
Big 5 Sporting Goods (NASDAQ: BGFV) had its price target boosted by Piper Jaffray to $20.00. The analysts wrote, “Last night Big 5 Sporting Goods announced Q4 results at the high end of the pre-announced range, but more importantly, guided Q1 well above expectations. Q1 EPS guidance of $0.18-0.24 and comp guidance of +high-single digits was well ahead of consensus of $0.08/shr and +4.9% as favorable weather and strong firearm/ammo sales accompany solid underlying trends. We are raising our estimates and price target to reflect the strong start to the year and remain buyers of BGFV shares as margins can still go much higher and solid topline growth appears sustainable at this point.”
Boise (NYSE: BZ) had its price target lowered by JPMorgan Chase to $9.50. The analysts wrote, “We believe the primary downside risks to our Neutral rating include: (1) additional and cost inflation, particularly around wood fiber or chemicals, (2) a slower-than-expected macroeconomic environment, which could pressure containerboard and UCFS volumes and prices, (3) if its current discount to peers widens, and (4) execution risk involved with any M&A activity it pursues, including paying too high of a multiple on any potential upcoming deal.”
Carrizo Oil & Gas (NASDAQ: CRZO) had its price target cut by Canaccord Genuity from $35.00 to $34.00. The firm currently has a buy rating on the stock. The analysts wrote, “We lowered our target price $1 to $34 per share due to a slightly higher NGL composition. Notably, our target price includes a value of $20K per acre for the company’s Utica Shale leasehold in Guernsey County. Early this year, Carrizo exercised its option to increase its leasehold in the Utica play to 17,000 net acres; approximately 50% of the acreage is in highly prospective Guernsey County. The company plans to drill its first Utica test in Guernsey County this summer.”
Ecolab (NYSE: ECL) had its price target raised by Barclays Capital from $80.00 to $81.00. Barclays Capital currently has an overweight rating on the stock.
Ecolab (NYSE: ECL) had its target price boosted by Piper Jaffray to $92.00. The analysts wrote, “We maintain our Overweight rating on shares of ECL following the company’s in-line 4Q print of $0.89 in EPS on $3.05 billion in revenues. Beyond the sustained outperformance in energy services, we are particularly encouraged by margin improvement in Europe (+250 bps) in 4Q as well as the outlook (+100 bps again in FY13). We believe we are just starting to see the fruits of the international investments, especially as growth in emerging regions enables further operating leverage. The 1Q13 guidance of $0.56 – $0.60 is in-line when the effect of Champion (which is not in guidance but is in many street models) is factored in.”
Edison International (NYSE: EIX) had its price target increased by Barclays Capital from $49.00 to $54.00. Barclays Capital currently has an overweight rating on the stock.
Edison International (NYSE: EIX) had its price target trimmed by Jefferies Group from $40.50 to $40.00. They currently have an underperform rating on the stock. The analysts wrote, “EIX 4Q12 core EPS (excluding EMG results) was $1.79 versus $0.79 last year, Consensus of $1.04 and our estimate of $1.05. The earnings improvement was driven by the true-up of its 2012 GRC which accounted for $0.82 of the improvement. The company also provided 2013 guidance of $3.45-$3.65 with Consensus at $3.27. Included in 2013 guidance is $0.31 of “positive variances” such as O&M savings and tax deductions.”
Exterran Holdings (NYSE: EXH) had its target price increased by Barclays Capital from $23.00 to $24.00. They currently have an equal weight rating on the stock.
Expeditors International (NASDAQ: EXPD) had its target price lowered by Jefferies Group to $44.00. Jefferies Group currently has a buy rating on the stock.
First Solar (NASDAQ: FSLR) had its target price raised by Barclays Capital from $18.00 to $19.00. The firm currently has an equal weight rating on the stock.
Forest Oil (NYSE: FST) had its price target cut by Barclays Capital from $7.00 to $6.00. Barclays Capital currently has an equal weight rating on the stock.
Gulfmark Offshore (NYSE: GLF) had its price target cut by Barclays Capital from $48.00 to $44.00. The firm currently has an overweight rating on the stock.
Home Depot (NYSE: HD) had its target price increased by Barclays Capital from $70.00 to $78.00. The firm currently has an overweight rating on the stock.
Jazz Pharmaceuticals (NASDAQ: JAZZ) had its price target increased by Piper Jaffray to $69.00. The analysts wrote, “JAZZ remains our top mid-cap spec pharma pick for 2013, with strong visibility on consistent long-term double-digit EPS growth, high barriers for potential Xyrem generics, all in the context of a 2013 P/E of only 10x. Further, with JAZZ still committed to additional acquisitions of commercial or near-commercial assets, and a strong balance sheet ($387M in cash at YE2012) and potentially more than $400M in operating cash flow generation in 2013, the company is well positioned to execute on a transaction that provides near-term earnings accretion and further revenue diversification in our view.”
JPMorgan Chase (NYSE: JPM) had its target price increased by Barclays Capital from $52.00 to $56.00. Barclays Capital currently has an overweight rating on the stock.
MAKO Surgical (NASDAQ: MAKO) had its price target cut by Canaccord Genuity from $13.00 to $12.00. Canaccord Genuity currently has a hold rating on the stock. The analysts wrote, “We maintain our HOLD rating. Q4/12 closed out a disappointing year with continued softness in overall system sales and domestic knee utilization rates. We believe disappointing box sales and slowing utilization, particularly on US knees, will continue to overshadow the commercialization of Hip 2.0 and the internally developed hip implant system. We believe MAKO will remain a show-me story until (if/when) the knee business turns around, which is not expected until Q2 at best.”
NuVasive (NASDAQ: NUVA) had its target price boosted by Barclays Capital from $17.00 to $19.00. The firm currently has an equal weight rating on the stock.
NuVasive (NASDAQ: NUVA) had its target price boosted by Piper Jaffray to $24.00. The analysts wrote, “Management delivered surprising upside on a nice bounce-back in revenues in 4Q12. However, the challenge for NuVasive going forward will be to string together 3-4 quarters of meeting or beating estimates and to drive growth into the double-digit range that management has framed out for investors as an aspirational long-term objective, which, based on management’s comments, will require continued cooperation from the spine market in terms of further improvements in growth. … We do in fact expect continued improvements in spine market growth in 2013 and we remain buyers of NUVA at current levels.”
Priceline (NASDAQ: PCLN) had its target price boosted by Barclays Capital from $750.00 to $775.00. They currently have an overweight rating on the stock.
Priceline (NASDAQ: PCLN) had its price target boosted by Piper Jaffray to $800.00. The analysts wrote, “As expected, Priceline offered strong Q1 bookings guidance (well above consensus), but the EPS outlook is slightly below consensus (at the midpoint) due to increased ad spend. We believe this high degree of marketing spend will prove to be a prudent investment as Priceline grows its footprint in the midst of an underlying tailwind from the shift of bookings from offline-to-online. … We are raising our FY13 FX-neutral intl bookings growth assumptions from 25% y/y to 30% y/y. We continue to believe Priceline can achieve multi-year PF EPS growth in the >20% range.”
Priceline (NASDAQ: PCLN) had its target price increased by Jefferies Group to $820.00. Jefferies Group currently has a buy rating on the stock.
Regency Energy Partners LP (NYSE: RGP) had its target price lowered by UBS AG from $27.00 to $25.00. The firm currently has a buy rating on the stock.
Range Resources (NYSE: RRC) had its price target raised by UBS AG from $68.00 to $73.00. They currently have a neutral rating on the stock.
RadioShack (NYSE: RSH) had its target price increased by RBC Capital from $2.50 to $3.00. The firm currently has a sector perform rating on the stock.
Saks (NYSE: SKS) had its target price boosted by UBS AG from $10.50 to $11.50. UBS AG currently has a neutral rating on the stock.
