RECN posts
FeedPosted Mar 5th 2009 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Pfizer (PFE), McDonald's (MCD), AT and T (T), Adobe Systems (ADBE), Research in Motion (RIMM), Gap Inc (GPS), Analyst initiations
Analyst upgrades:
- Citigroup upgraded Lubrizol (NYSE: LZ) to Buy from Hold on valuation as they believe economic weakness is already priced into the stock. Despite upgrading, Citigroup lowered their target price to $32 from $36.
- UBS believes AT&T (NYSE: T) consensus estimates are beatable and that the 7.1% dividend yield is safe. Additionally, the firm said a strike is possible when the unionized wireline employee contract expires on April 4th but expects the company to succeed in lowering healthcare benefits. Shares were upgraded to Buy from Neutral.
- Friedman Billings upgraded Adobe (NASDAQ: ADBE) to Market Perform from Underperform as they believe guidance appropriately reset expectations and that the risk/reward is neutral at current levels. The firm lowered their target price to $16 from $17. Shares were also upgraded to Buy from Hold at Jefferies after the Q1 results to reflect better-than-expected cost cuts and an attractive risk/reward at current levels.
- Lousiana Pacific (NYSE: LPX) was raised to Sector Outperformer from Sector Performer at CIBC.
- OmniVision (NASDAQ: OVTI) was upgraded at Baird to Neutral from Underperform.
Continue reading Analyst upgrades, downgrades and initiations: T, ADBE, GPS, RIMM, MCD, PFE ...
Posted Jan 4th 2009 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Forecasts, Bed Bath and Beyond (BBBY), Family Dollar Stores (FDO), KB HOME (KBH)
After the turn of the calendar page, quarterly reporting resumes this week. Analysts surveyed by Thomson Reuters are expecting to see strong earnings growth from fertilizer producer Mosaic Co. (NYSE: MOS), biotech giant Monsanto Co. (NYSE: MON), and Neogen Corp. (NASDAQ: NEOG), which produces food safety and animal health products. Mosaic's estimated earnings per share of $1.43 for the fiscal second quarter would be 41.9% higher than a year ago, and its revenue estimate of $3.0 billion is 36.7% higher. Monsanto's $0.59 per share projection for the fiscal first quarter is 22.0% higher and sales of $2.4 billion are up 14.9%. And Neogen's second-quarter $0.25 per share would be 12.0% higher, while its sales of $32.3 million are up 18.6%. All three have tended to beat expectations in recent quarters, and all three have buy recommendations from a consensus of analysts. Mosaic and Monsanto have recently announced dividends, and their share prices have fallen 62.3% and 39.0%, respectively, from a year ago. The share price of Neogen, which recently announced share buybacks, is only 0.8% lower.
Other companies expected to post modest earnings gains when they report this week include education company Apollo Group Inc. (NASDAQ: APOL), WD-40 Co. (NASDAQ: WDFC), and wine and spirits maker Constellation Brands Inc. (NYSE: STZ).
Continue reading The week in preview: Family Dollar, Bed Bath & Beyond, KB Home, and others
Posted Jul 21st 2008 2:32PM by Larry Schutts (RSS feed)
Filed under: Earnings reports, Analyst upgrades and downgrades, Southwest Airlines (LUV), Technical Analysis, Stocks to Buy
Resources Connection (NASDAQ: RECN) provides
professional services to corporations, in support of client-led projects and initiatives. Areas of expertise include finance, accounting, risk management, internal auditing, information technology, human resources, supply chain management, and legal matters. The firm serves 2,400 companies from more than 80 offices around the world. The client list includes Southwest Airlines (NYSE: LUV) and Exelon Corporation (NYSE: EXC).
Resources Connection pleased investors last week, when it reported fiscal Q4 EPS of 35 cents and revenues of $236.7 million. Analysts had been expecting 28 cents and $228.0 million. During the quarter, the company repurchased about 1.1 million RECN shares. Deutsche Securities subsequently reiterated its "buy" rating on the issue.
Continue reading Resources Connection (RECN): Price in bullish 'flag' formation
Posted Dec 27th 2007 12:02PM by Eric Buscemi (RSS feed)
Filed under: Analyst upgrades and downgrades, Analyst initiations
MOST NOTEWORTHY UPGRADES:
- Potash Corp. (NYSE: POT) was upgraded to Buy from Neutral at Goldman based on the company's unprecedented sustainable pricing power.
MOST NOTEWORTHY DOWNGRADES:
MOST NOTEWORTHY INITIATIONS:
- Credit Suisse believes Willbros Group Inc. (NYSE: WG) is well-positioned to capitalize on increased pipeline construction. The firm started shares with an Outperform rating and $46 target.
- CIBC, which said Rubicon Tech (NASDAQ: RBCN) is the leading sapphire supplier with the most advanced and highest quality substrate, views the company as uniquely positioned to leverage fast ramping LED volumes as new applications drive demand. CIBC initiated Rubicon with a Sector Outperformer rating and $23 target.
- Citigroup initiated El Paso Pipeline (NYSE: EPB) with a Buy rating and $28 target.
- Keefe Bruyette initiated Mercer Insurance (NASDAQ: MIGP) with a Market Perform rating and $19 target.
- Internet Brands (NASDAQ: INET) was initiated with an Overweight rating and $14 target at Thomas Weisel.
Posted Sep 26th 2007 11:10AM by Eric Buscemi (RSS feed)
MOST NOTEWORTHY: Sprint Nextel, Tesoro, VeriSign, Healthcare Property and Resources Connection were today's noteworthy downgrades:
- Goldman downgraded shares of Sprint Nextel Corporation (NYSE: S) to Neutral from Buy to reflect continuing turnaround delays, macro headwinds and competition.
- Tesoro Corporation (NYSE: TSO) was downgraded to Neutral from Outperform at Credit Suisse, citing increased concerns regarding West Coast margins.
- The firm also lowered VeriSign Inc (NASDAQ: VRSN) to Neutral from Outperform, as they believe the company's reorganization could require more time than investors anticipate.
- Friedman Billings downgraded Healthcare Property (NYSE: HCP) to Market Perform from Outperform on valuation. Shares were also downgraded to Neutral from Buy at UBS.
- Resources Connection (NASDAQ: RECN) was downgraded to Hold from Buy at Stifel, to Market Perform from Outperform at JMP Securities and to Peer Perform from Outperform at Bear following its Q1 report.
OTHER DOWNGRADES:
- Walgreen (NYSE: WAG) was downgraded to Neutral from Overweight at JMP Securities.
- JP Morgan downgraded Staples Inc (NASDAQ: SPLS) to Underweight from Neutral.
- UBS downgraded Under Armour Inc (NYSE: UA) to Neutral from Buy.
- Bear downgraded CNOOC Ltd (NYSE: CEO) to Underperform from Peer Perform.
Posted Jun 15th 2007 10:31AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Good news
MOST NOTEWORTHY: Rudolph Technologies, Inc (RTEC), DirecTV Group, Inc (DTV), EchoStar Communications (DISH) and Legacy Reserves LP (LGCY) were today's more noteworthy initiations:
- AG Edwards started Rudolph Technologies, Inc (NASDAQ: RTEC) with a Buy rating, believing Rudolph's acquisition of August Technologies created additional market opportunities and recommends investors to build positions at these levels to participate in future growth.
- Stifel initiated DirecTV Group, Inc (NYSE: DTV) with a Buy rating and $28 target and EchoStar Communications (NASDAQ: DISH) with a Hold rating and $45 target. The firm prefers DirectTV to EchoStar given DirectTV's faster growing Latin America division, coming HD advantage, and greater likelihood of buybacks and views a merger between DISH & DTV as possible longer-term.
- Legacy Reserves (NASDAQ: LGCY) was started with a Buy rating at Oppenheimer, expecting Legacy to grow through acquisitions.
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).