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Analyst initiations: TPGI, NGLS, ARMHY, FNLY and KOF

Posted Oct 29th 2007 11:35AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst initiations

MOST NOTEWORTHY: Thomas Properties, Tanga Resource Partners, ARM Holdings, Finlay Enterprises and Coca-Cola Femsa were today's noteworthy initiations:
  • Shares of Thomas Properties Group Inc (NASDAQ: TPGI) were initiated with a Neutral rating and $14 target at Banc of America. The firm has concerns over the lack of liquidity in the shares and considerable insider ownership levels.
  • RBC Capital started shares of Targa Resource Partners LP (NASDAQ: NGLS) with an Outperform rating and $35 target, as they expect shares recover once financing is in place.
  • Jefferies started shares of ARM Holdings PLC (NASDAQ: ARMHY) with a Buy rating, citing the company's new products, margin leverage, buybacks and royalties ramp.
  • Finlay Enterprises Inc (NASDAQ: FNLY) was initiated with a Neutral rating and $4.80 target at B. Riley, citing integration and execution risks.
  • Coca-Cola Femsa SA (NYSE: KOF) was started with a Buy rating at Gabelli, as they find the valuation attractive as the company's growth in key markets of , , and continues.
OTHER INITIATIONS:

Analyst upgrades: MAT, VOLV, PMI, MOS and DMND

Posted Sep 21st 2007 10:30AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Mattel, Inc (MAT)

MOST NOTEWORTHY: Mattel, Volvo, PMI Group, Mosaic and Diamond Foods were today's noteworthy upgrades:
  • Oppenheimer upgraded shares of Mattel Inc (NYSE: MAT) to Buy from Neutral citing valuation, strong 2008 product line-up, and expected organic sales growth.
  • Goldman upgraded shares of Volvo (NASDAQ: VOLV) to Buy from Neutral on valuation as they believe the company's prospects for earnings are not priced into shares. Volvo was added to the firm's Conviction Buy List.
  • PMI Group's (NYSE: PMI) rating was raised to Outperform from Market Perform at Piper Jaffray on valuation.
  • Citigroup upgraded shares of Mosaic Company (NYSE: MOS) to Hold from Sell to reflect their increased commodity price forecasts.
  • Diamond Foods Inc (NASDAQ: DMND) was upgraded to Buy from hold at BB&T Capital on valuation.
OTHER UPGRADES:

Analyst downgrades 6-13-07: AL, COST, DF and HOFF

Posted Jun 13th 2007 11:44AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Bad news, Costco Wholesale (COST), Dean Foods (DF)

MOST NOTEWORTHY: Some of today's more noteworthy downgrades included Dean Foods Co (DF), Louisiana-Pacific Corp (LPX), Costco Wholesale Corp (COST), Alcan Inc (AL) and Horizon Offshore, Inc (HOFF):
  • Dean Foods Co (NYSE: DF) was cut to Neutral from Overweight at JP Morgan to reflect future guidance concerns after management's cautious tone.
  • Louisana-Pacific Corp (NYSE: LPX) was downgraded to Strong Sell from Buy at Matrix USA. The firm believes a weak housing market is having a significant negative impact on shares and sees downside to $14/share.
  • Bear Stearns cut Alcan (NYSE: AL) to Peer Perform from Outperform based on valuation.
  • Oppenheimer downgraded Horizon Offshore (NASDAQ: HOFF) to Neutral from Buy on news of the acquisition by Cal Dive International (NYSE: DVR) as the firm believes the likelihood of a materially higher bid is low...
OTHER DOWNGRADES:
  • Nucor Corp (NYSE: NUE) was taken off Goldman's Conviction Buy List.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Targa Resources: An energy bet worth exploring

Posted Jun 5th 2007 9:30AM by Hilary Kramer (RSS feed)
Filed under: Hilary On Stocks

Although Targa Resources Partners LP (NASDAQ: NGLS) is quite a young company, the business has grown into one of the largest independent "midstream natural gas and NGL services" companies in the United States. According to the company's website, Targa was created by Warburg Pincus in 2003 in order to provide natural gas as well as services such as "gas gathering, processing, treating, fractionation, storage, and transportation to a very large and diverse customer base."

The company's IPO took place in February 2007, making Targa quite a new public company. The company has locations in strategic places such as the Permian Basin, Fort Worth/Bend Arch Basin, the South Louisiana Basin, and in deepwater Gulf of Mexico natural gas reserves.

Targa's "downstream" NGL logistics assets are located in several states including Texas, Louisiana and California, where there is storage, terminalling, transportation and distribution. Targa sells to petrochemical and refining companies, retail distributors or to marketers at market hubs.

Continue reading Targa Resources: An energy bet worth exploring

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Last updated: November 11, 2009: 11:36 PM

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