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Analyst Calls: AB, ARMH, BP, DANG, JNS, LOGI, PCX, SYMC, YHOO, YOKU ...

Analyst Upgrades
  • BP (BP) to buy from hold at RBS.
  • Symantec (SYMC) to buy from hold at Deutsche Bank.
  • GenOn Energy (GEN) and Nationwide Health Properties (NHP) to buy from hold at Citigroup.
  • Logitech (LOGI) and Patriot Coal (PCX) to neutral from sell, as well as ARM Holdings (ARMH) to buy from neutral, at Goldman.
  • Silvercorp Metals (SVM) to outperform from market perform at BMO Capital.
  • Cinemark (CNK) to equal weight from underweight at Morgan Stanley.
  • Smith & Nephew (SNN) to market perform from underperform at Bernstein.
  • Molex (MOLX) to overweight from underweight at JPMorgan.

Continue reading Analyst Calls: AB, ARMH, BP, DANG, JNS, LOGI, PCX, SYMC, YHOO, YOKU ...

Lab Corp Buys Genzyme Genetics Unit

LH logoLabCorp (LH - option chain) stock is trading lower today after the company announced that it has agreed to purchase Genzyme's (GENZ) Genzyme Genetics unit in a $925 million all-cash deal. The price was higher than some analysts expected and is expected to negatively impact LH's earnings by 0.25 over the next year, which is sending LH stock lower today. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on LH.

This morning, LH opened at $75.55 So far today the stock has hit a high of $75.99 and a low of $73.93. As of 12:25, LH is trading at $73.73 down $2.93 (-2.9%). The chart for LH looks bullish and S&P gives LH a positive 4 STARS (out of 5) buy ranking.

Continue reading Lab Corp Buys Genzyme Genetics Unit

Analyst initiations: AVAV, AOB and INTC

MOST NOTEWORTHY: AeroVironment, American Oriental and Intel were today's noteworthy initiations:
  • Suntrust initiated AeroVironment (NASDAQ: AVAV) with a Buy rating and $32 target and expects AVAV's market leadership in unmanned aerial systems and increased effort in the high altitude to drive strong organic growth.
  • Jefferies believes American Oriental (NYSE: AOB) is capable of making sizable acquisitions given its strong cash position and finds the valuation attractive at current levels. The firm started shares with a Buy rating and $20 target.
  • Intel (NASDAQ: INTC) was initiated with a Neutral rating and $30 target at Baird on valuation.
OTHER INITIATIONS:

Analyst upgrades 8-30-07: ATE, BIG, MOT and TASR

MOST NOTEWORTHY: Taser Int'l (TASR), Motorola (MOT), Advantest (ATE), STMicroelectronics (STM) and Joy Global (JOYG) were today's noteworthy upgrades:
  • Merriman upgraded shares of Taser Int'l (NASDAQ: TASR) to Buy from Hold on valuation following the 25% decline in price since late July, accelerating law enforcement demand and upside potential from the recently launched personal TASER C2.
  • Lehman upgraded shares of Motorola (NYSE: MOT) to Overweight from Equal Weight as they believe increased production and opex progress in Q3 could signal a turnaround at the company's phone unit.
  • Jefferies upgraded Advantest (NYSE: ATE) to Hold from Underperform on valuation.
  • STMicroelectronics (NYSE: STM) was upgraded to Market Perform from Underperform on valuation at Bernstein.
  • Stifel upgraded shares of Joy Global (NASDAQ: JOYG) to Buy from Hold following the in line Q3 report as they believe bad news is reflected in valuation...
OTHER UPGRADES:
  • Idacorp (NYSE: IDA) was upgraded to Market Perform from Under Perform at Wachovia.
  • Wedbush raised Big Lots (NYSE: BIG) to Buy from Hold, with a $35 target, and DSW Inc. (NYSE: DSW) to Hold from Sell, with a $29 target.
  • LabCorp (NYSE: LH) was upgraded to Outperform from Neutral at Cowen.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst initiations: AMD, DGX, NWA and ODFL

MOST NOTEWORTHY: Old Dominion Freight (ODFL), Jamba (JMBA), AMD (AMD), Orbitz Worldwide (OWW) and Quest Diagnostics (DGX) were today's notable initiations:
  • Baird is positive on Old Dominion's (NASDAQ: ODFL) growth opportunities, valuation, 2008 improving truck fundamentals, and a potentially seasonally stronger Q4, starting shares with an Overweight rating and $36 target.
  • Merriman initiated Jamba (NASDAQ: JMBA) with a Buy rating, as the company aggressively expands its store base beyond California.
  • BMO Capital believes AMD (NYSE: AMD) may lose the Intel platform integrated graphics market, and sizeable Intel platform discrete graphics market share. The firm initiated AMD shares with an Underperform rating and $10 target.
  • Soleil has concerns regarding Orbitz Worldwide's (NYSE: OWW) decelerating growth and poorer business mix vs. competitors and started shares with a Hold rating and $13 target.
  • Credit Suisse initiated Quest Diagnostics (NYSE: DGX) with a Neutral rating and $61 target, citing the recent UnitedHealth (UNH) contract loss, slowing growth, and valuation for its Neutral rating...
OTHER INITIATIONS:
  • JMP Securities started ShoreTel (NASDAQ: SHOR) with a Market Outperform rating.
  • Credit Suisse initiated LabCorp (NYSE: LH) with an Outperform rating.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 08:07 AM

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