Research Analysts’ ratings reiterations for Monday, March 4th:
Stagecoach Group (LON: SGC) had its buy rating reiterated by analysts at Deutsche Bank. The firm currently has a $4.66 price target on the stock.
Sears Holdings Corp (NASDAQ: SHLD) had its underperform rating reiterated by analysts at Credit Suisse. Credit Suisse currently has a $20.00 target price on the stock.
Saks (NYSE: SKS) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $12.00 target price on the stock. Zacks’ analyst wrote, “Saks’ fourth quarter earnings of $0.17 per share beat the Zacks Consensus Estimate by $0.02. Earnings were in line with the prior-year quarter. Net sales rose 1.0% to $713.2 million. However, quarterly revenue lagged the Zacks Consensus Estimate. We are encouraged with the strong performance of women’s and men’s contemporary apparel, women’s and men’s shoes, handbags, fine jewelry and fragrances, which drove the comparable store sales by 3.3% in the quarter. In fact, we are impressed that the company has reported positive comp sales in the last two consecutively. The company remains focused on executing its core merchandising, service and marketing strategies, through various operating initiatives. However, higher input costs and uncertain macro-economic environment remain a headwind, keeping us on the sidelines with a Neutral recommendation. “
Tanger Factory Outlet Centers (NYSE: SKT) had its buy rating reissued by analysts at Jefferies Group. Jefferies Group currently has a $40.00 target price on the stock, up from their previous target price of $39.00. The analysts wrote, “Class A mall fundamentals remain strong, but luxury sales growth is slowing. We believe value oriented retail is a better play and should continue to thrive in 2013 given another year of slow GDP growth and political uncertainty. Our favorite retail REIT names remain Simon Property Group (SPG) and Tanger Factory Outlets (SKT) given their combined dominance in the outlet mall space and substantial development pipeline.”
Standard Motor Produ (NYSE: SMP) had its buy rating reissued by analysts at Bank of America. Bank of America currently has a $25.00 target price on the stock. The analysts wrote, “SMP reported 4Q12 continuing ops. EPS of $0.28, ahead of our $0.25 estimate and consensus of $0.22. GAAP EPS of $0.27 included a $658K pre-tax restructuring charge and a $240K gain from the sale of land, which netted to a $0.01/sh hit to EPS. The operating beat in the quarter versus our forecasts was driven by solid cost execution, as sales growth of 10.4% YoY, to $192mm (BofAMLe $199mm), was strong, but below our forecasts. Specifically, gross margin of 30.1% (BofAMLe 28.6%) exceeded our forecast and, coupled with inline SG&A as a % of sales of 23.5%, drove an adjusted operating margin of 6.7% (BofAMLe 5.1%), which was impressive. We expect SMP to continue delivering solid results, as the combination of an aging US vehicle fleet and a recovery in miles driven support demand for replacement engine and temperature-related components.”
Staples (NASDAQ: SPLS) had its equal weight rating reiterated by analysts at Barclays Capital. They currently have a $13.00 price target on the stock.
Stoneridge (NYSE: SRI) had its buy rating reiterated by analysts at B. Riley Caris. They currently have a $7.50 price target on the stock.
Stratasys (NASDAQ: SSYS) had its overweight rating reiterated by analysts at Piper Jaffray. Piper Jaffray currently has a $94.00 target price on the stock. The analysts wrote, “Stratasys reported solid Q4 results with revenues of $96.4 million increasing 23% on a year/year basis and non GAAP EPS of $0.41. Operating income increased 19.0% year/year and net income increased 40.9% y/y. The results versus consensus comparison is difficult this quarter with the consensus pool consisting of estimates that excluded and included none or partial results from Objet, so we will compare the results versus our industry high estimates that included a full quarter contribution from Objet.”
St. Jude Medical (NYSE: STJ) had its buy rating reaffirmed by analysts at TheStreet. The analysts wrote, “St Jude Medical (STJ) 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 reasonable valuation levels, good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
St. James's Place plc (LON: STJ) had its overweight rating reaffirmed by analysts at JP Morgan Cazenove. They currently have a $7.98 target price on the stock.
State Street (NYSE: STT) had its buy rating reaffirmed by analysts at Jefferies Group. They currently have a $65.00 target price on the stock.
Seagate (NYSE: STX) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “Seagate Technology (STX) 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 solid stock price performance, revenue growth, notable return on equity, 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.”
Stillwater Mining (NYSE: SWC) had its overweight rating reiterated by analysts at JPMorgan Chase. The analysts wrote, “Stillwater reported positive Q4 results with better than anticipated costs. The 2013 outlook is for production similar to 2012 levels at 500koz but higher costs on new wage contracts and general inflation. The commentary was upbeat, talking about the company’s growth plans to 600kpa production by 2017, though cash costs remain a drag on earnings. We and SWC feel the outlook for palladium remains strong, with falling Russian stockpile sales and tight supply from South Africa coupled with increased demand from China. We recently raised our LT price forecasts for platinum by $300/oz to $2,100 and for palladium by $100/oz to $1,100 and we upgraded Stillwater to Overweight.”
Swift Transportation (NASDAQ: SWFT) had its buy rating reaffirmed by analysts at Bank of America. They currently have a $17.00 price target on the stock, up from their previous price target of $15.00. The analysts wrote, “We are increasing our 2013 and 2014 EPS estimates 3% each, to $1.19 and $1.35, from $1.15 and $1.30, respectively. Additionally, we are increasing our price objective 13%, to $17 from $15, as we increase our target multiple to 14x from 13x. Our target multiple is at the bottom end of its 13x-22x trading range and the overall truckload sector of 14x-22x (over the past 17 years),which we believe provides additional upside potential as the company continues to improve its operating performance and reduces its financial leverage. The shares remain one of our top picks for 2013.”
Southwestern Energy (NYSE: SWN) had its neutral rating reaffirmed by analysts at Zacks. They currently have a $37.00 price target on the stock. Zacks’ analyst wrote, “We are reiterating our Neutral recommendation on Southwestern following its fourth quarter 2012 results. The low natural gas price environment is curbing its spending level, thereby restricting growth. Southwestern enjoys strong acreage positions in the Fayetteville and Marcellus shales which offer ample opportunities for newer natural gas discoveries. The company’s effort to build its New Ventures acreage outside of New Brunswick is an added positive. Brown Dense is expected to be a key play in its portfolio. However, we prefer to stay on the sidelines, considering the weak natural gas scenario in the U.S. arising from continued oversupply and low demand. Other risk factors such as technological failures and lack of a diversified asset base also add to our negative sentiment. “
Stryker (NYSE: SYK) had its buy rating reissued by analysts at Goldman Sachs. Goldman Sachs currently has a $72.00 target price on the stock, up from their previous target price of $71.00. The analysts wrote, “We update our model for the completed acquisition of Trauson Holdings and the announced $250mn ASR. Trauson is an orthopaedic device manufacturer headquartered in China with a primary focus on trauma and spine (77% of sales combined). 2012 revenue was around $75-80 million, growing at 25-30%. Stryker management indicated the transaction to be neutral to 2013E EPS and accretive thereafter. We believe there could be further upside to estimates should Stryker prove successful at leveraging Trauson’s existing channels in China to sell a broader product suite.”
Stryker (NYSE: SYK) had its neutral rating reissued by analysts at Zacks. They currently have a $68.00 target price on the stock.
TalkTalk Telecom Group (LON: TALK) had its sell rating reissued by analysts at Espirito Santo Execution. The firm currently has a $2.10 target price on the stock.
Tenet Healthcare (NYSE: THC) had its buy rating reaffirmed by analysts at Jefferies Group. They currently have a $48.00 target price on the stock, up from their previous target price of $26.00. The analysts wrote, “We remain bullish on THC given our belief that the company is on track to realize the projected benefits of ‘healthcare reform’ for hospital providers once the law is implemented beginning in 2014. Given our belief that the ‘reform trade’ will buoy hospital stocks throughout 2013, particularly as they progress in contracting with ‘exchange plans’, we expect THC shares to sustain their recent upward momentum.”
Tenet Healthcare (NYSE: THC) had its overweight rating reaffirmed by analysts at JPMorgan Chase. They currently have a $41.00 price target on the stock.
Tiffany & Co. (NYSE: TIF) had its buy rating reissued by analysts at TheStreet. The analysts wrote, “Tiffany (TIF) 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, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
TJX Companies (NYSE: TJX) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $47.00 price target on the stock. Zacks’ analyst wrote, “The TJX Companies’ adjusted earnings of $0.82 per share in the fourth quarter of fiscal 2013 beat the Zacks Consensus Estimate by a penny. Earnings exceeded the year-ago figure by 32% on the back of strong comparable sales in all its stores. Same store sales climbed 7% on the back of higher customer traffic in the U.S., Canada and Europe. Well-chosen stocks at the stores improved customer traffic during the period. Moreover, the company also increased its earnings guidance for fiscal 2013. We are also encouraged by the company’s foray into e-commerce through its acquisition of Sierra Trading. The company consistently performs well in Europe and North America in spite of the ongoing economic challenges which have resulted in shift in consumer spending from high priced branded products to the low priced items offered by the discount stores. However rising input costs and lack of international presence remain persistent overhangs. We are Neutral on the stock.”
Tullow Oil (LON: TLW) had its reduce rating reiterated by analysts at Nomura. Nomura currently has a $19.99 target price on the stock.
Tullow Oil (LON: TLW) had its buy rating reiterated by analysts at Jefferies Group. The firm currently has a $27.06 price target on the stock.
Thermo Fisher Scientific (NYSE: TMO) had its buy rating reiterated by analysts at TheStreet. The analysts wrote, “Thermo Fisher Scientific (TMO) 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, impressive record of earnings per share growth, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
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