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Analyst inititations: FREE, NKTR, ALTU and ABH

Posted Nov 9th 2007 11:20AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Under Armour'A' (UA), Analyst initiations, PetroChina Co Ltd ADR (PTR)

MOST NOTEWORTHY: FreeSeas, Nektar, Altus Pharmaceuticals and AbitibiBowater were today's noteworthy initiations:
  • Cantor initiated shares of FreeSeas (NASDAQ: FREE) with a Buy rating and $10 target, as they expect the company to benefit from the continued strength in the dry bulk market.
  • JP Morgan resumed coverage of Nektar (NASDAQ: NKTR) with an Overweight rating, as they view weakness from the discontinuation of Exubera as a buying opportunity given the company's base royalty business and pipeline opportunities.
  • Altus Pharmaceuticals (NASDAQ: ALTU) was initiated with a Buy rating and $19 target at Jefferies. The firm expects news flow from the company's two lead products over the next 6-12 months that should act as catalysts.
  • AbitibiBowater (NYSE: ABH) was initiated with a Sell rating and $18 target at Banc of America, as they are cautious on newsprint trends; the firm recommends reducing existing positions.
OTHER INITIATIONS:

Analyst upgrades 5-10-07: B, MA, NVDA and PZZA

Posted May 10th 2007 11:02AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst upgrades and downgrades, Good news, MasterCard Inc'A' (MA)

MOST NOTEWORTHY: Today's noteworthy upgrades include Papa John's Int'l, Inc (PZZA), ExpressJet Holdings, Inc (XJT), Nvidia Corp (NVDA),Georgia Gulf Corp (GGC) and MasterCard (MA):
  • Following Q1 results, Oppenheimer upgraded shares of Papa John's Int'l, Inc (NASDAQ: PZZA) to Buy from Neutral, citing better-than-expected revenue growth, improved margins and acquisitions.
  • Soleil upgraded shares of ExpressJet Holdings (NYSE: XJT) to Hold from Sell with a $7 target due to the likely absence of any real news until at least August.
  • Deutsche Bank assumed shares of Nvidia (NASDAQ: NVDA) with a Buy, up from Hold, as the firm believes Vista will accelerate NVDA's growth rates making their 2008 estimates conservative.
  • Citigroup upgraded shares of Georgia Gulf Corp (NYSE: GGC) to Buy from Sell based on an improved near-term outlook.
  • MasterCard (NYSE: MA) was upgraded to Hold from Sell at Stifel based on the lenders impressive Q1 results and pricing power...
OTHER UPGRADES:
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Pfizer's hand forced

Posted Dec 5th 2006 11:15AM by Eric Buscemi (RSS feed)
Filed under: Forecasts, Competitive strategy, Pfizer (PFE)

The death of cholesterol drug Torcetrapib, which caused Pfizer's (NYSE:PFE) stock to plunge 12% yesterday, has forced the company into purchasing growth rather than developing it. With the company's biggest drug, Lipitor, losing patent exclusivity in 2010, Pfizer must now hurry to acquire potential blockbuster drugs to maintain revenue, since its own pipeline is all but dried up. Company VP David Shedlarz said of the M&A market, "Now we will attack it with a greater sense of urgency."

This desperation means overpaying for possible franchise drugs, which means a potential early Christmas for takeover targets. One such target, according to TheDeal.com [subscription required], is Sepracor (NASDAQ:SEPR), which makes sleep and allergy drugs. Another possible target, according to W.R. Hambrecht, is Nektar Therapeutics (NASDAQ: NKTR), a biopharmaceutical company which makes drug delivery technologies.

Symbol Lookup
IndexesChangePrice
DJIA+14.2910,241.23
NASDAQ-1.122,152.94
S&P 500+0.021,093.10

Last updated: November 10, 2009: 02:58 PM

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