Investment Analysts’ ratings reiterations for Monday, March 4th:
Depomed (NASDAQ: DEPO) had its outperform rating reissued by analysts at Zacks. They currently have a $9.00 price target on the stock. Zacks’ analyst wrote, “On March 4, 2013, the U.S. FDA Center for Drug Evaluation and Research (CDER) Committee for Reproductive Health Drugs (ACRHD) voted by a wide margin that Depomed’s Sefelsa (gabapentin-ER) for the treatment of menopausal hot flash should not be approved at the upcoming PDUFA schedule for May 31, 2013. We would use the modest sell off in Depomed stock to establish or add to a core position. We believe that DEPO stock is cheap, backed by the solid cash position, growing sales of both Gralise and Zipsor, pure-cash royalties from Glumetza, Janumet-XR, and Nucynta-ER, and the potential for in-licensing and deal making later in 2013.”
ForceField Energy (NASDAQ: FNRG) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $6.60 target price on the stock. Zacks’ analyst wrote, “ForceField Energy has expanded into two new “green technology” segments: LED lighting and ORC (Organic Rankin Cycle) technology. The strategic positioning into two other alternative energy industries transforms ForceField into a broader-based company, which should benefit from the secular trend towards more efficient energy generation and consumption. Multiple new relationships and trials have been announced over the last few months. In the legacy TCS market, polysilicon prices have rebounded from the December lows, and a recovery appears to be underway. We maintain our Neutral rating.”
JPMorgan Chase (NYSE: JPM) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $51.00 target price on the stock. Zacks’ analyst wrote, “Maintaining its track record of delivering positive earnings surprises, JPMorgan substantially surpassed the Zacks Consensus Estimate in the fourth quarter. Results largely benefited from improved revenue and lower provision for credit losses. However, these were partially offset by higher operating expense. Despite the impact of a number of legal and regulatory issues as well as fundamental pressures like low interest rate and weak loan demand, the company’s earnings reflected the underlying strength in its business segments. We anticipate continued synergies from reduction in reserves for future losses, business diversification, steadily improving retail banking performance and a strong capital position. Moreover, meaningful capital deployment activities and workforce reduction will boost investors’ confidence in the stock. Nevertheless, pressure on net interest margin, low liquidity and a stringent regulatory environment, along with various investigations as well as litigations, could slightly dent the results in the near term.”
Public Service Enterprise Group (NYSE: PEG) had its market perform rating reissued by analysts at BMO Capital Markets. BMO Capital Markets currently has a $35.00 target price on the stock, up from their previous target price of $33.00. The analysts wrote, “We believe the company’s Energy Strong filing, is well aligned with the views of policymakers and legislators who wish to see significantly enhanced storm recovery response from the utilities especially in the wake of super storm Sandy, which devastated the state in 2012. Backed by robust utility capex, we expect regulated EPS growth rate in the low to mid-teens through 2017. In addition, with the expiration of certain transition charges, PEG should be able to implement the ES program while keeping customers’ rates roughly flat. We further note that about 75%-81% of the capex plan through 2017 is subject to contemporaneous rate recovery, which should minimize regulatory lag, in our view.”
Pfizer (NYSE: PFE) had its buy rating reaffirmed by analysts at Bank of America. The firm currently has a $30.00 target price on the stock, up from their previous target price of $29.00. The analysts wrote, “We continue to like PFE due to its solid dividend yield (3.5%), pipeline optionality and our belief in management’s willingness to make significant strategic decisions to enhance value. We are adding palbociclib (PD-0332991, CDK 4/6 inhibitor) to our model. We assume launch in 2016, reaching peak sales of $1bn four years after launch. PFE reported positive results from a Phase II trial of palbociclib (PD-0332991, CDK 4/6 inhibitor) at the San Antonio Breast Cancer Conference (SABCS) in Dec-12. In first-line ER +ve, HER2 –ve breast cancer patients, the median progression-free survival in the palbociclib + letrozole arm was 26.1 months vs. 7.5 months in the letrozole alone arm.”
Pengrowth Energy Corp (NYSE: PGH) had its sector underperform rating reissued by analysts at CIBC.
Pengrowth Energy Corp (NYSE: PGH) had its sector perform rating reaffirmed by analysts at RBC Capital. The firm currently has a $6.00 target price on the stock.
Pall (NYSE: PLL) had its neutral rating reaffirmed by analysts at JPMorgan Chase. The firm currently has a $69.00 price target on the stock, up from their previous price target of $60.00. The analysts wrote, “We rate Pall Neutral for year-ahead performance. We think that Pall Corporation is a well-managed business with good growth prospects. We do not view Pall’s shares as inexpensive at the current price. Pall’s businesses have excellent market share positions and high gross margins. Management is intent on improving the cost structure and we would expect it to make good progress over time. Pall stock now trades at 12.7x F2013 EBITDA (including net pension liabilities) with a 3.1% free cash flow yield and a return on capital of 13.3% which places it at the higher end of the Materials companies we cover.”
Parmalat SpA (BIT: PLT) had its hold rating reaffirmed by analysts at Banca Akros. They currently have a $2.47 price target on the stock.
Premier Oil (LON: PMO) had its buy rating reissued by analysts at Nomura. Nomura currently has a $7.52 price target on the stock.
PNM Resources (NYSE: PNM) had its buy rating reaffirmed by analysts at Jefferies Group. Jefferies Group currently has a $25.50 price target on the stock, up from their previous price target of $24.00. The analysts wrote, “PNM Resources 4Q12 operating earnings were $0.13 per share, versus $0.22 last year, our estimate of $0.10 and consensus estimates of $0.12. The decrease in earnings was driven by lower results at PSNM due to greater outage costs. Management announced its plan to increase the dividend by 14% and will review the dividend again in December 2013 with the goal of a 50-60% payout ratio.”
Pembina Pipeline (TSE: PPL) had its sector outperform rating reiterated by analysts at CIBC. They currently have a $30.50 target price on the stock.
Prudential Financial (NYSE: PRU) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “Prudential Financial (PRU) 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, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Prysmian SpA (BIT: PRY) had its buy rating reaffirmed by analysts at AlphaValue. The firm currently has a $28.96 price target on the stock.
Quanta Services (NYSE: PWR) had its buy rating reaffirmed by analysts at BB&T. The firm currently has a $33.00 target price on the stock.
Praxair (NYSE: PX) had its buy rating reissued by analysts at Jefferies Group. The firm currently has a $134.00 target price on the stock.
QUALCOMM (NASDAQ: QCOM) had its buy rating reiterated by analysts at Deutsche Bank. They currently have a $78.00 target price on the stock. The analysts wrote, “The week before the Mobile World Congress, Qualcomm made its announcement of the RF360 Front End Module (FEM). As we noted in our comments last week, this product line is a result of over five years of internal development at QCOM. The RF360 is expected to start shipping in two phones later this year. At MWC, we met with most of QCOM’s baseband competitors, several component suppliers, device vendors and industry contacts. Bottom line, we reiterate our Buy rating on QCOM.”
Regus (LON: RGU) had its neutral rating reissued by analysts at Goldman Sachs. They currently have a $1.95 target price on the stock.
Ross Stores (NASDAQ: ROST) had its sector perform rating reaffirmed by analysts at RBC Capital. RBC Capital currently has a $67.00 target price on the stock.
SAIC (NYSE: SAI) had its underperform rating reiterated by analysts at RBC Capital. RBC Capital currently has a $11.00 price target on the stock.
Sinclair Broadcast Group (NASDAQ: SBGI) had its neutral rating reaffirmed by analysts at JPMorgan Chase. They currently have a $17.50 price target on the stock, up from their previous price target of $16.00. The analysts wrote, “Sinclair’s shares have had solid performance, primarily due to acquisition announcements (Newport in July and Barrington and COX Media this past week). Given the significant move in the stock (up 26% YTD,13 versus the S&P500′s +6%) we believe much of the potential benefits and synergies are already baked-in. While we continue to view Sinclair as a top-notched TV operator, with shrewd retrans negotiations abilities, all the moving parts, makes it difficult to access the health of the underlying Local advertising business. Therefore, we maintain our Neutral rating, and expect modest upside to share price from current levels.”
Sabra Healthcare Reit (NASDAQ: SBRA) had its buy rating reissued by analysts at Jefferies Group. Jefferies Group currently has a $30.00 target price on the stock, up from their previous target price of $26.00. The analysts wrote, “With SBRA up almost 200% over the last 16 months and its valuation gap narrowing vs peers, we ask if the clock has struck midnight on this Cinderella story. However, taking into account acquisition opportunities, an improving cost of capital, and continued multiple expansion through diversification, we believe meaningful upside exists.”
J Sainsbury (LON: SBRY) had its neutral rating reiterated by analysts at Espirito Santo Execution. The firm currently has a $5.26 target price on the stock.
Starbucks (NASDAQ: SBUX) had its buy rating reaffirmed by analysts at TheStreet. The analysts wrote, “Starbucks Corporation (SBUX) 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, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins.”
ShawCor (TSE: SCL.A) had its outperform rating reaffirmed by analysts at RBC Capital. The firm currently has a $47.00 target price on the stock.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.
