Equities Research Analysts’ ratings reiterations for Friday, March 1st:
Palo Alto Networks (NASDAQ: PANW) had its hold rating reissued by analysts at Jefferies Group. They currently have a $60.00 target price on the stock, up from their previous target price of $59.00. The analysts wrote, “PANW reported solid F2Q results as it displayed continued market share gains with a building base of subscription services. PANW is early in the release phase for several solutions, and deal expansion metrics continue to move higher, which should lead to further upside. But at current levels, the stock is as much an ‘expectation’ situation, which provides less room for error. And as such, we retain a more neutral view on the stock.”
Palo Alto Networks (NASDAQ: PANW) had its outperform rating reaffirmed by analysts at FBN Securities. They currently have a $70.00 price target on the stock, up from their previous price target of $65.00. The analysts wrote, “PANW beat consensus revenue and EPS for FQ2, and posted very strong deferred revenue growth of 92% Y/Y and 17% Q/Q due to an increase in multi-year deals in both subscriptions and maintenance services. Our table (pg. 2 of this report) comparing PANW to competitors CSCO, JNPR, CHKP, FTNT, and FIRE in the network security market shows that in CQ4 PANW’s product revenue of 60%Y/Y was 15x the 4% Y/Y growth rate of the market and more than two times faster than the company with the second fastest growth rate – FIRE (28% Y/Y). We conclude that PANW, FTNT, and FIRE continue to gain share from CSCO, JNPR, and CHKP, and PANW is gaining share from FTNT and FIRE. Although the stock may pull back today on profit-taking (stock was up 5% yesterday), investors should be accumulating shares of the best-of-breed player in the network security market.”
Petroleo Brasileiro SA (NYSE: PBR) had its hold rating reissued by analysts at TheStreet. The analysts wrote, “Petroleo Brasileiro SA Petrobras (PBR) has been reiterated by TheStreet Ratings as a hold with a ratings score of C . The company’s strengths can be seen in multiple areas, such as its increase in net income, attractive valuation levels and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and poor profit margins.”
MetroPCS (NYSE: PCS) had its sector perform rating reaffirmed by analysts at RBC Capital. The firm currently has a $11.00 target price on the stock.
PepsiCo (NYSE: PEP) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “PepsiCo (PEP) has been reiterated by TheStreet Ratings as a buy with a ratings score of A- . The company’s strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, reasonable valuation levels, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Pengrowth Energy Corp (NYSE: PGH) had its sector outperform rating reaffirmed by analysts at Scotiabank.
PulteGroup (NYSE: PHM) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “PulteGroup (PHM) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company’s strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Phx Energy Services (TSE: PHX) had its sector perform rating reissued by analysts at RBC Capital. RBC Capital currently has a $10.00 target price on the stock.
Phx Energy Services (TSE: PHX) had its sector perform rating reissued by analysts at RBC Capital. They currently have a $10.00 price target on the stock.
Pier 1 Imports (NYSE: PIR) had its outperform rating reiterated by analysts at Wedbush. Wedbush currently has a $25.00 target price on the stock, up from their previous target price of $22.50. The analysts wrote, “December comps were up a strong 8.2% vs. a tough 11.3% –better than our forecast for up 7% and guidance for Q4 comps up in mid-single digits. Sales growth for the month was driven by strong traffic and an increase in average ticket. Momentum was said to be strong throughout the month, including during the days after Christmas, and sales were strong across all parts of the country. Our checks during December found strong traffic driven by new and well-differentiated assortments and very high service levels. Importantly, sales growth continues to be strong across all merchandise categories, including furniture, which should bode well into 2013 as the housing market continues to recover.”
Pall (NYSE: PLL) had its neutral rating reaffirmed by analysts at Bank of America. The firm currently has a $70.00 price target on the stock, up from their previous price target of $65.00. The analysts wrote, “For fiscal 2Q13, PLL reported total sales of $662.5mn (+3.5% y/y, +3.9% in local currency (LC), -0.4% F/X), above our est of $630mn (+0.3% y/y in LC). Adj. EBIT margin (excluding ~$0.03 in restructuring charges) was 17.0% (flat y/y), higher than our 16.7% est as cost controls and pricing benefits were partially offset by unfavorable product mix and F/X headwinds. Non-GAAP EPS of $0.73 were above our/Street’s est of $0.66, with ~$0.05 benefit from lower taxes/share count.”
Pall (NYSE: PLL) had its neutral rating reiterated by analysts at Macquarie. The firm currently has a $66.00 target price on the stock.
Banca Popolare di Milano Scarl (BIT: PMI) had its neutral rating reissued by analysts at Nomura. Nomura currently has a $0.81 target price on the stock.
Premier Oil (LON: PMO) had its buy rating reaffirmed by analysts at Investec. Investec currently has a $6.44 price target on the stock.
PNC Financial Services (NYSE: PNC) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “PNC Financial Services Group (PNC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A- . The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Petropavlovsk (LON: POG) had its buy rating reiterated by analysts at Canaccord Genuity. They currently have a $12.13 price target on the stock.
Pool (NASDAQ: POOL) had its neutral rating reissued by analysts at Zacks. They currently have a $48.00 price target on the stock. Zacks’ analyst wrote, “Pool is a recognized leader in the swimming pools industry. Its earnings per share and revenues beat the Zacks Consensus Estimates in fourth-quarter 2012 buoyed by solid sales from the Base business. The potential for market share gain is significant and cost-containment initiatives augur well for the business. The turnaround in the Green business, which was once struggling, is another positive. The company expects market conditions to improve beyond 2013 as well. We appreciate Pool’s ability to grow earnings per share more than 20% over three consecutive years in a row amid a tough business environment. However, management now expects its bottom line growth to slow down in coming years. The company is also expected to reel under margin pressure in 2013. Further, the upcoming first quarter will face seasonal headwinds. Hence, we remain Neutral on the stock.”
PPG (NYSE: PPG) had its buy rating reaffirmed by analysts at TheStreet. The analysts wrote, “PPG Industries (PPG) has been reiterated by TheStreet Ratings as a buy with a ratings score of A+ . The company’s strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, solid stock price performance, growth in earnings per share and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
PS Business Parks (NYSE: PSB) had its overweight rating reaffirmed by analysts at JPMorgan Chase. The firm currently has a $78.00 target price on the stock, up from their previous target price of $73.00. The analysts wrote, “While we generally favor CBD office exposure over suburban, we think the combination of its relative valuation lease-up potential from its recent acquisitions (including its December Northern California acquisition) and its balance sheet firepower should enable the stock to perform well in 2012.”
Playtech (LON: PTEC) had its buy rating reaffirmed by analysts at Canaccord Genuity. They currently have a $9.16 target price on the stock.
Playtech (LON: PTEC) had its buy rating reissued by analysts at Panmure Gordon. Panmure Gordon currently has a $9.17 price target on the stock.
Providence Resources Corp (LON: PVR) had its buy rating reaffirmed by analysts at Oriel Securities Ltd.
Providence Resources Corp (LON: PVR) had its buy rating reaffirmed by analysts at Seymour Pierce. The firm currently has a $23.20 target price on the stock.
Pioneer Natural Resources (NYSE: PXD) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “Pioneer Natural Resources Company (PXD) has been reiterated by TheStreet Ratings as a buy with a ratings score of B- . The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Rackspace Hosting (NYSE: RAX) had its buy rating reissued by analysts at TheStreet. The analysts wrote, “Rackspace Hosting (RAX) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company’s strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
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