Analysts’ ratings reiterations for Thursday, November 28th:
Afren (LON:AFR) had its buy rating reiterated by analysts at Investec. Investec currently has a GBX 170 ($2.76) price target on the stock.
Abercrombie & Fitch Co. (NYSE:ANF) had its underperform rating reaffirmed by analysts at Zacks. They currently have a $31.00 target price on the stock. Zacks’ analyst wrote, “We reiterate our Underperform recommendation on Abercrombie as its dismal sales performance continues into fiscal third-quarter 2013. The company reported lower-than-expected top-line results for the fourth consecutive quarter. Weak third-quarter sales resulted mainly from poor performance in the domestic market, owing to continued weakness in the overall spending among youngsters. Moreover, the company’s comps continued to play spoil sport, recording a 14% decline. Further, the company’s negative comps for the fourth quarter suggest no recovery in the top-line trend in the near term. In addition, we believe that the company’s over-dependence on outside suppliers, intense competition from discount retailers as well as the seasonality of its business may undermine growth prospects. “
Comcast Corp. (NASDAQ:CMCSA) had its neutral rating reissued by analysts at Zacks. Zacks currently has a $52.00 target price on the stock. Zacks’ analyst wrote, “Comcast reported mixed financial results for the third quarter of 2013. While net income surpassed the Zacks Consensus Estimate, total revenue fell below the same. The company’s Cable businesses continued to perform well and the NBC Universal segment is witnessing improvement. As a result, Comcast generated a record-high free cash flow. The company completed its major technical innovations, such as DOCSIS 3.0, all digital networks and a multi-platform content delivery network. Moreover, newly launched services such as Xfinity Home, Wi-Fi, Streampix, X1, upcoming X2 and the high-speed Metro Ethernet are the several long-term growth catalysts for the company. On the other hand, continued loss of video customers is a concern. The cable TV operators are gradually losing their hold in the U.S. pay-TV market. We believe Comcast is currently fairly valued and therefore, reaffirm our Neutral recommendation. “
Cairn Energy (LON:CNE) had its hold rating reissued by analysts at Investec. The firm currently has a GBX 310 ($5.03) price target on the stock.
Canadian Natrl Res (NYSE:CNQ) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $34.00 target price on the stock. Zacks’ analyst wrote, “We are maintaining our Neutral investment thesis on Canadian Natural Resources, reflecting a balanced risk/reward profile. The company’s large, diversified oil and gas asset bases, together with international exposure and a well-balanced blend of conventional and unconventional prospects, provides a buffer against uncertainties in the sector. Other positives for CNQ include its active hedging policy, competitive cost structure, strong balance sheet and robust free cash flow. However, the company s exposure to the inherently cyclical and volatile E&P sector offsets these strengths and remains a key area of concern, in our view. The stock has also been held back by operational challenges, continued volatility in natural gas prices and a fresh round of cost inflation in the oil sands regions.”
Cooper Cos. (NYSE:COO) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $138.00 target price on the stock. Zacks’ analyst wrote, “We maintain our recommendation on Cooper Companies at Neutral following its fiscal 2013-third quarter results. Both earnings and revenues beat the Zacks Consensus Estimate in the quarter. The contact lens unit is growing at above-market growth rates. Cooper has significant market share in high growth specialty lenses. Industry outlook has improved with an expectation of rising utilization in emerging nations and a higher proportion of sales of value-added lenses. However, markets in Europe are weak and discretionary spending is still weak. Near term issues emanating from a weak economy, such as lower purchase sizes plague the company. We set a target of $138.00 on the stock.”
DeVry (NYSE:DV) had its neutral rating reiterated by analysts at Zacks. They currently have a $37.00 price target on the stock. Zacks’ analyst wrote, “DeVry’s first-quarter fiscal 2014 adjusted earnings of $0.22 per share missed the Zacks Consensus Estimate by a penny and declined 57.7% year over year due to higher operating expenses. Revenues declined 6.0% as strong growth in the healthcare and international businesses was offset by yet another revenue decline at the struggling flagship DeVry University due to enrollment shortfall. Despite the near-term sluggishness, we believe the company has long-term value. Its diversified portfolio of programs, regular strategic acquisitions and a debt-free balance sheet give it a competitive advantage. The company is also seeing continued strength in its health care and international businesses. The performance improvement plan to align costs, regain enrollment growth and make growth investments look impressive. We, however, prefer to remain Neutral on the stock until we see sustained enrollment growth at DeVry University not expected at-least in 2014. The continued challenged regulatory environment remains a persistent overhang.”
Fenner (LON:FENR) had its neutral rating reissued by analysts at Espirito Santo Investment Bank Research. Espirito Santo Investment Bank Research currently has a GBX 345 ($5.60) target price on the stock.
Greatbatch (NYSE:GB) had its outperform rating reiterated by analysts at Zacks. Zacks currently has a $49.00 price target on the stock.
Goldcorp (NYSE:GG) had its neutral rating reissued by analysts at Zacks. They currently have a $23.00 target price on the stock.
Gol Linhas Aereas Inteligentes SA (NYSE:GOL) had its neutral rating reissued by analysts at Zacks. They currently have a $4.75 target price on the stock. Zacks’ analyst wrote, “We adhere to our Neutral recommendation on GOL Linhas. The company has a command over the Brazilian air travel sector supported by network expansion across the globe, fleet restructuring, competitive pricing and enhancement of customer services. The airline’s various partnerships and collaborations should allow the company to effectively serve its customers. Nevertheless, we stay on the sidelines due to disappointing results in the third quarter. Additionally, the company faces a number of roadblocks including weak domestic currency, competitive sector scenario, imbalance in domestic supply and demand ratio and exposure to international business risks.”
Hewlett-Packard (NYSE:HPQ) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $29.00 price target on the stock.
CarMax (NYSE:KMX) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $53.00 target price on the stock. Zacks’ analyst wrote, “CarMax posted a 29.2% increase in earnings per share to $0.62 in the second quarter of fiscal 2014, exceeding the Zacks Consensus Estimate by $0.05. Net sales and operating revenues rose 17.7% to $3.2 billion, surpassing the Zacks Consensus Estimate of $3.1 billion. The year-over-year improvement in revenues was mainly due to higher used vehicle sales, wholesale vehicle sales and higher revenues from extended service plans. CarMax’s focus on the used-vehicle market and its aggressive store expansion strategy should help it outperform peers. However, we are concerned about the pressure on used vehicle margins, high competition in the used-car market and high cash outflows of CarMax. As a result, we maintain our Neutral recommendation on CarMax.”
Medicines (NASDAQ:MDCO) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $38.00 price target on the stock. Zacks’ analyst wrote, “The Medicines Co. reported third quarter 2013 EPS of $0.38, significantly above the year-ago EPS of $0.22 and the Zacks Consensus Estimate of $0.19. Third quarter 2013 revenues increased 27% year over year to $174.3 million, ahead of the Zacks Consensus Estimate of $173 million. We expect Angiomax to continue performing well. Moreover, we are pleased to see management actively pursuing in-licensing deals and acquisitions to drive growth. The AstraZeneca, Bristol-Myers, ProFibrix and Incline deals look good to us. We are also pleased with the signing of the GAIN Act, which has led to an additional five years of exclusivity for oritavancin. While we are encouraged by the company’s efforts to develop its pipeline, the delay in the company’s plans for the U.S. filing of Ionsys is disappointing. We remain Neutral on the stock. “
Ophir Energy (LON:OPHR) had its buy rating reiterated by analysts at Investec. They currently have a GBX 410 ($6.65) price target on the stock.
Premier Oil (LON:PMO) had its buy rating reiterated by analysts at Goodbody Stockbrokers Ltd.
Rotork (LON:ROR) had its buy rating reiterated by analysts at Espirito Santo Investment Bank Research. Espirito Santo Investment Bank Research currently has a GBX 3,150 ($51.13) target price on the stock.
SIG PLC (LON:SHI) had its buy rating reissued by analysts at Goodbody Stockbrokers Ltd.
Spirax-Sarco Engineering (LON:SPX) had its neutral rating reiterated by analysts at Espirito Santo Investment Bank Research. They currently have a GBX 3,000 ($48.69) price target on the stock.
Seagate (NYSE:STX) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $51.00 price target on the stock. Zacks’ analyst wrote, “Seagate reported dismal first-quarter results wherein the company’s top and bottom lines not only lagged the Zacks Consensus Estimate but were also down on a year-over-year basis. The lack of visibility in the HDD industry and declining price environment impacted results. Despite the ongoing cost control measures, the company has not been able to support its margins. Nonetheless, the company is investing in customized products to gain new customers and increase its market share. Moreover, we expect its product development strategy and growing TAM to improve results, going forward. Thus, we reiterate our Neutral recommendation on Seagate and set a price target of $51.00.”
Tullow Oil (LON:TLW) had its hold rating reiterated by analysts at Investec. They currently have a GBX 925 ($15.01) target price on the stock.
Wells Fargo & Co. (NYSE:WFC) had its neutral rating reissued by analysts at Zacks. The firm currently has a $46.00 target price on the stock. Zacks’ analyst wrote, “Wells Fargo’s third-quarter 2013 earnings per share surpassed the Zacks Consensus Estimate. Reduced loan provisions and disciplined expense management were the tailwinds. Organically, the company reported growth in total loans and deposits. However, top-line contraction was a headwind. In the long term, we remain optimistic about the company, based on its diverse geographic and business mix. Strategic acquisitions and a solid capital position are expected to improve profitability going forward. Yet, we believe the top-line headwinds would persist, given the protracted economic recovery. The company’s unrelenting legacy mortgage issues and regulatory pressure also remain concerns. “
Wolseley (LON:WOS) had its buy rating reaffirmed by analysts at Goodbody Stockbrokers Ltd.
This article (Analysts’ Ratings Reiterations for November, 28th (AFR, ANF, CMCSA, CNE, CNQ, COO, DV, FENR, GB, GG)) was originally developed by and is property of American Banking News.
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