Analyst calls: AMGN, EDS, OVTI, V, MVL, ANF, LULU, URBN ...
Posted Jul 29th 2008 11:31AM by Eric Buscemi
Filed under: Analyst upgrades and downgrades, Hewlett-Packard (HPQ), Abercrombie and Fitch (ANF), Electronic Data Systems (EDS), Amgen Inc (AMGN), Analyst initiations, Urban Outfitters (URBN), Marvel Entertainment (MVL)
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Analyst upgrades:
- Citigroup upgraded shares of Amgen Inc. (NASDAQ: AMGN) to Buy from Hold and raised the target price to $70 from $50 following AMGN's better-than-expected Q2 results and positive Dmab results.
- Credit Suisse upgraded Electronic Data Systems (NYSE: EDS) to Neutral from Underperform and expects the Hewlett-Packard (NYSE: HPQ) transaction to close at the $25/share price.
Analyst downgrades:
- JP Morgan downgraded OmniVision (NASDAQ: OVTI) to Neutral from Overweight citing slowing growth and increased competition, as well as the impact on margins.
- Constellation Energy (NYSE: CEP) was downgraded at Lehman to Equal Weight from Overweight.
- International Game Tech (NYSE: IGT) was downgraded to Market Perform from Outperform at Wachovia.
Analyst initiations:
- KeyBanc said Visa's (NYSE: V) strengths are its recurring revenue model, significant pricing power, no consumer credit risk, operating leverage, expense flexibility, and considerable free cash flow, among other reasons. The firm initiated shares with a Buy rating and $94 target.
- Regal Entertainment (NYSE: RGC) was assumed at Caris with an Average rating and $18 target. The firm sees tough comps ahead for the company and does not expect any meaningful price increases.
- Caris also initiated Marvel Entertainment (NYSE: MVL), as they are positive on the company's new financing vehicle. Shares were initiated with a Buy rating and $45 target.
- Goldman initiated textile, apparel and footwear stocks. Aeropostale (NYSE: ARO) and Urban Outfitters (NASDAQ: URBN) were initiated with Buy ratings, Lululemon (NASDAQ: LULU) and Abercrombie & Fitch (NYSE: ANF) were started with Neutral ratings and American Eagle (NYSE: AEO) was initiated with a Sell rating.
Tags: aeo, amgn, anf, aro, cep, eds, hpq, igt, inthenews, lulu, mvl, ovti, rgc, urbn, v
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