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Analyst downgrades: Department store sector, SNDK and CNET

Posted May 16th 2008 11:38AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Penney (J.C.) (JCP), Regions Financial (RF), Kohl's Corp (KSS), Nordstrom, Inc (JWN), SanDisk Corp (SNDK)

MOST NOTEWORTHY: The Department store sector, SanDisk and CNET Networks were today's noteworthy downgrades:

Goldman downgraded the department store sector to Neutral from Attractive after raising its 2008 oil forecast to $149 from $115, as it believes higher gas prices will impact consumer discretionary spend and sentiment. Goldman downgraded JC Penney (NYSE: JCP) and Nordstrom (NYSE: JWN) to Neutral and also removed Kohl's (NYSE: KSS) from its Conviction Buy List.
JMP Securities downgraded SanDisk (NASDAQ: SNDK) to Underperform from Market Perform based on increased competition in NAND, a potential decline in royalty income, valuation, and lack of catalysts from flash-based solid state drives.
CNET Networks (NASDAQ: CNET) was cut to Neutral from Buy at Banc of America following the tender offer from CBS (NYSE: CBS).

OTHER DOWNGRADES:

Merrill downgraded Regions Financial (NYSE: RF) to Sell from Neutral.
B. Riley downgraded Exar (NASDAQ: EXAR) to Neutral from Buy.
Albermarle (NYSE: ALB) was lowered to Neutral from Overweight at JP Morgan.

Analyst initiations: Exar, Diamond Management, Medivation

Posted Jan 17th 2008 12:16PM by Eric Buscemi (RSS feed)
Filed under: duPont(E.I.)deNemours (DD), Analyst Initiations

MOST NOTEWORTHY: Exar, Diamond Management and Medivation were today's noteworthy initiations:

B. Riley thinks shares of Exar Corp. (NYSE: EXAR) are near a bottom given the balance sheet support at $6.47/share and prospect for a return to positive EBITDA as early as the June quarter. The firm initiated coverage with a Buy rating and $10 target.
B. Riley initiated Diamond Management & Technology (NASDAQ: DTPI) with a Buy rating and $10 target and expects the company's strong growth to continue. The firm also sees margin expansion opportunities.
Roth Capital assumed coverage of Medivation (NASDAQ: MDVN) with a Buy rating and $21 target, as they believe the company's Dimebon for Alzheimer's is a persuasive story and that the company's pipeline has strong potential.

OTHER INITIATIONS:

UBS started DuPont (NYSE: DD) and Monsanto (NYSE: MON) with Neutral ratings and targets of $48 and $125, respectively.
Siemens (NYSE: SI) was initiated with an Overweight rating at Morgan Stanley.

Looking for value in the tech rubble: 29 stocks marked down

Posted Jan 7th 2008 12:30PM by Zack Miller (RSS feed)
Filed under: Internet, Stocks to Buy, Technology

Barron's ran a piece today [subscription] on an interesting list that has some history. Back when I was at the hedge fund, we found a list of interesting stocks produced by boutique investment firm, B. Riley. This list, called Cash Rich Technology Stocks (CRTS), was a favorite among value investors in the technology sector.

According to Barron's, this list screens for tech stocks trading at or near net cash per share. More specifically, the CRTS looks for stocks where:

Net cash for all the companies considered was at least 35% of market cap.
Riley eliminated companies with market caps under $40 million or high cash-burn rates.
They crossed off those its analysts believed to have business models with little chance of success.

So, which stocks came up?

Continue reading Looking for value in the tech rubble: 29 stocks marked down