Equities Research Analysts’ new coverage for Tuesday, March 5th:
Credit Suisse began coverage on shares of Agilent Technologies (NYSE: A). They issued an outperform rating and a $48.00 target price on the stock. The analysts wrote, “Agilent is the most diversified name in our coverage universe, with 48% of sales coming from the Electronic Measurements Group (EMG). Weakness in EMG drove the company’s recent quarterly miss and guidance reduction but the resulting selloff provides a more attractive entry point for long-term investors. … Proprietary survey suggests continued traction in life sciences and chemical analysis.”
Jefferies Group started coverage on shares of Aegerion Pharmaceuticals (NASDAQ: AEGR). Jefferies Group issued a buy rating on the stock.
Bank of America started coverage on shares of Aegerion Pharmaceuticals (NASDAQ: AEGR). Bank of America issued a buy rating and a $39.00 target price on the stock. The analysts wrote, “AEGR’s newly launched drug lomitapide (Juxtapid) is indicated for patients with very high LDL levels caused by a rare genetic disorder referred to as homozygous familial hypercholesteremia (HoFH). Our discussions with lipidologists indicated there is high awareness level and undermet need for treating this disorder. … Our near and intermediate-term sales estimates are ~75% above consensus but still conservative in our view vs. other recent ultra orphan drug launches, particularly if patient identification is less of a challenge.”
Jefferies Group began coverage on shares of Anthera Pharmaceuticals (NASDAQ: ANTH). They issued a buy rating and a $2.00 target price on the stock.
UBS AG started coverage on shares of Acuity Brands (NYSE: AYI). They issued a buy rating and a $76.00 target price on the stock.
JMP Securities began coverage on shares of Credit Acceptance Corp (NASDAQ: CACC). The firm issued an outperform rating and a $130.00 target price on the stock.
JPMorgan Chase began coverage on shares of Comstock Resources (NASDAQ: CMRE). The firm issued an overweight rating and a $16.50 target price on the stock.
JPMorgan Chase began coverage on shares of Diana Shipping (NYSE: DSX). The firm issued a neutral rating and a $9.50 target price on the stock.
Jefferies Group began coverage on shares of Dyax (NASDAQ: DYAX). The firm issued a buy rating and a $6.00 target price on the stock.
Northland Capital began coverage on shares of Edap – Tms SA (NASDAQ: EDAP). They issued an outperform rating and a $6.00 price target on the stock.
Benchmark Co. started coverage on shares of E2open (NASDAQ: EOPN). They issued a buy rating and a $25.00 price target on the stock. The analysts wrote, “We believe that the short-term volatility obscures the fact that EOPN has compelling long-term success factors: solid management; market leadership in a key new application area; a business model that lends itself to “network effects” and attendant natural monopolies; control of supply chain data, a key information asset in multi-enterprise manufacturing companies; multiple new product opportunities that can be phased in over several years; and underpenetrated current markets and greatly expandable addressable market through added vertical industries.”
Bank of America initiated coverage on shares of Health Insurance Innovations (NASDAQ: HIIQ). Bank of America issued a buy rating on the stock. The analysts wrote, “We are initiating coverage of Health Insurance Innovations (HIIQ), a company that designs and markets short term medical (STM) insurance plans, with a Buy rating and $18 P.O. Our view is that robust growth, driven by new broker incentives to sell STM instead of major medical (MM) and adding call centers to sell its plans, will accelerate into 2014 as the STM addressable market expands due to health care reform. Valuation at just 13x our 2014 EPS offers attractive risk/reward.”
Credit Suisse assumed coverage on shares of Health Insurance Innovations (NASDAQ: HIIQ). They issued an outperform rating and a $17.00 price target on the stock. The analysts wrote, “We are constructive on the company’s ability to execute on product design and grow its number of policies in-force amidst a changing regulatory landscape. We believe the company has a timely opportunity to strengthen and build its network of distributors, while navigating the looming changes from health insurance expansion in 2014. To be balanced, we recognize the business has relatively low barriers to entry and 2014 & beyond present unchartered regulatory risk, and hence we assign a lower multiple to arrive at our $17 PT.”
Needham & Company assumed coverage on shares of KaloBios Pharmaceuticals (NASDAQ: KBIO). They issued a buy rating and a $11.00 price target on the stock.
Credit Suisse initiated coverage on shares of AG Mortgage Investment Trust (NASDAQ: MITT). They issued a neutral rating and a $26.00 price target on the stock. The analysts wrote, “We are initiating on AG Mortgage with a Neutral rating and a $26 target price. While we see MITT as well positioned for the current environment, this is already reflected in the current 7% premium to book value. We see 12% total return potential for MITT over the next 12 months, which warrants a Neutral rating. … MITT currently trades at a 9% premium to our estimate of current book value and yields 12%.”
Needham & Company assumed coverage on shares of Millennial Media (NYSE: MM). The firm issued a hold rating on the stock.
Robert W. Baird initiated coverage on shares of New Source Energy Partners LP (NASDAQ: NSLP). Robert W. Baird issued an outperform rating and a $23.00 target price on the stock.
Barclays Capital initiated coverage on shares of Polyus Gold International (LON: PGIL). Barclays Capital issued an overweight rating on the stock.
Goldman Sachs initiated coverage on shares of Polyus Gold International (LON: PGIL). Goldman Sachs issued a neutral rating on the stock.
Topeka Capital Markets assumed coverage on shares of RTI International Metals (NYSE: RTI). They issued a buy rating and a $38.00 price target on the stock. The analysts wrote, “As the only remaining domestic pure-play publicly traded producer and supplier of titanium, we believe RTI is well positioned to benefit from the attractive commercial aerospace market, which accounts for approximately 55% of revenue. While sequestration represents a risk to RTI’s defense business, we view this as relatively nominal given its long-term supply agreements, program specific and international exposures. The Company’s significant leverage to the commercial aerospace market, its high value add product mix, capital projects and the potential for additional acquisitions are supportive of our Buy rating.”
Leerink Swann assumed coverage on shares of Sarepta Therapeutic (NASDAQ: SRPT). Leerink Swann issued an outperform rating and a $45.00 target price on the stock.
Jefferies Group assumed coverage on shares of Supernus Pharmaceuticals (NASDAQ: SUPN). They issued a buy rating and a $13.00 target price on the stock.
JPMorgan Chase assumed coverage on shares of Wright Medical (NASDAQ: WMGI). JPMorgan Chase issued an overweight rating on the stock.
Credit Suisse initiated coverage on shares of ZAIS Financial Corp (NYSE: ZFC). They issued an outperform rating and a $21.50 target price on the stock. The analysts wrote, “As ZAIS begins to deliver on its strategy of investing in whole loans and increases its ROE, we see the shares trading at a premium to book value. We see 18% total return prospects for ZAIS over the next 12 months, which warrants our Outperform rating. … When fully allocated, we expect ZAIS to have about 90% of its equity in mortgage credit, with the majority in legacy whole loans. Whole loans yields have not contracted to the same level of non-Agency MBS and offer higher ROE potential. We see ZAIS as being well positioned to take advantage of this opportunity.”
Oppenheimer began coverage on shares of ZAIS Financial Corp (NYSE: ZFC). The firm issued a market perform rating on the stock.
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