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Analyst initiations 7-06-07: CACH, COOL and ID

Posted Jul 6th 2007 10:15AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Initiations

MOST NOTEWORTHY: Majesco Entertainment (COOL), Glu Mobile (GLUU) and Cache, Inc (CACH) were today's noteworthy initiations:
  • Nollenberger believes Majesco Entertainment (NASDAQ: COOL) is an attractive turnaround story on track to start delivering accelerating revenue growth with expanding margins and started shares with a Buy rating and $3.00 target.
  • Nollenberger started Glu Mobile (NASDAQ: GLUU) with a Neutral rating, citing concerns about competitive pressures, summer seasonality, IPO lockup expiration and valuation.
  • JP Morgan's believes Cache Inc's (NASDAQ: CACH) initiatives, including loyalty and credit card programs, show the potential for longer term growth, but the uncertainty in the women's apparel space makes the company cautious, and started shares off with a Neutral rating...
OTHER INITIATIONS:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 1-25-07: Piper Jaffray upgrades eBay Inc

Posted Jan 25th 2007 11:21AM by Kevin Shult (RSS feed)
Filed under: Before the Bell, Analyst Upgrades and Downgrades, Good news, eBay (EBAY), Best Buy (BBY), Corning Inc (GLW), Broadcom Corp'A' (BRCM)

MOST NOTEWORTHY: eBay Inc (EBAY), Corning inc (GLW) and Best Buy Co Inc (BBY) were the most notable upgrades today:
  • Following the company's strong quarter, Piper Jaffray upgraded eBay Inc (NASDQ: EBAY) to Market Perform from Underperform, with a $30 target.
  • Citigroup upgraded Corning Inc (NYSE: GLW) to Buy from Hold, with a $29 target, based on the revised strategy of maintaining price stability by opting to give up some market share in the seasonally weaker first-half of the year; Corning was also added to JP Morgan's Focus List.
  • Bank of America upgraded Best Buy Co Inc (NYSE: BBY) to Buy from Neutral, with a $59 target, and expects TV margins to be better in the second-half of 2007.

OTHER UPGRADES:
  • UBS upgraded shares of Broadcom Corp (NASDAQ: BRCM) to Buy from Neutral, with a $38 target, citing reduced concerns in networking and positive Bluetooth checks.
  • Stanford believes the negative news has already been priced into the SRA International Inc (NYSE: SRX) and upgraded shares to Buy from Hold, with a $39 target.
  • Wedbush upgraded shares of Majesco Entertainment Company (NASDAQ: COOL) to Hold from Sell as they believe "Cooking Mama" for Nintendo Co Ltd ADR (OTC: NTDOY) is helping to cause a turnaround and find bankruptcy unlikely now.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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