A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:
Oppenheimer reiterated its outperform rating on shares of COMSCORE, Inc. (SCOR).
KeyBanc upgraded shares of Sigma-Aldrich Corp (SIAL) from a hold rating to a buy rating. KeyBanc now has a $88.00 price target on the stock.
Ascendiant Capital Markets upgraded shares of Solta Medical Inc. (SLTM) from a buy rating to a strong-buy rating. Ascendiant Capital Markets now has a $3.75 price target on the stock. They wrote, "Revenue was $35.0 MM (+28%), compared to the consensus estimate of $33.9 MM, in what is seasonally the slowest quarter of the year. GAAP EPS was ($0.04) compared to consensus EPS of ($0.03). Non-GAAP adjusted EPS was $0.03. . In our opinion, the recent weakness in the stock has created an attractive entry point. Hence, we are upgrading our rating to Strong Buy. Our 12-month price target of $3.75 represents a target forward EV/EBITDAS multiple of 12.3x our 2013 estimate."
Deutsche Bank downgraded shares of Servicesource Intern (SREV) from a buy rating to a hold rating. They wrote, "4Q guide was reduced by $9m due to 3 key factors - reduced engagements at customers/customer losses ($5.5m), timing of ACV conversion getting pushed out ($1.5m), and higher back end weighting of new ACV ($2m). The company disclosed loss of a platform-based technology customer, which we believe had a $5m - $6m annual revenue run-rate. Meanwhile, other technology customers cut back on spend as they saw core business slow. Meanwhile the company reiterates pipeline is up 60% y/y, but lower expected ACV growth (15% - 17%) indicates tougher conversion rates. We believe Renew OnDemand is off to a good start (16 customer engagements, including Qualcomm), but anticipate longer time to maturity and do not see this improving margins in near-term."
Morgan Stanley downgraded shares of Servicesource Intern (SREV) from an overweight rating to an equal weight rating.
Credit Agricole downgraded shares of Servicesource Intern (SREV) from a buy rating to an outperform rating.
Zacks reiterated its neutral rating on shares of Seagate (STX). They have a $29.00 price target on the stock. Zacks' analyst wrote, "Ace disk drive-maker Seagate reported a modest first quarter 2013, with revenue improving substantially but EPS missing our expectation. Seagate's position in the HDD vertical is impressive and full recovery in the HDD industry and increasing demand will solidify the current position. Also, Seagate's strong foothold in the Enterprise SSD market will help it to generate healthy revenue growth in fiscal 2013 and beyond, which in turn will improve its margins. While the current uncertainty in the PC market (to which Seagate is highly exposed), Euro concerns and competitive offerings from rivals will remain an overhang. We maintain our Neutral recommendation and a target price of $29.00."
Zacks reiterated its neutral rating on shares of Teradata Co. (TDC). They have a $66.00 price target on the stock. Zacks' analyst wrote, "Teradata reported third quarter earnings of $0.65, which beat the Zacks Consensus Estimate by $0.02. The quarter's earnings were positively impacted by higher revenue and margin expansions. Though the top line increased year over year, yet it fell shy of the consensus mark of $667.0 million. We believe that new customer wins and strengthening relationships with large vendors will be the primary revenue drivers as well as increase profits going forward. Moreover, Teradata will continue to benefit from its international expansion, improved traction from sales force expansion, new products and alliances, market share gains and a growing database analytics market. However, increased investment in sales and an increase in the number of competing products from big names including Oracle are resulting in continued pricing pressure. This eventually may limit margin expansion going forward. Thus, we have a Neutral recommendation on the stock with a price target of $66.00."
FBR Capital upgraded shares of Tesco Co. (TESO) from a market perform rating to an outperform rating. FBR Capital now has a $12.00 price target on the stock, up previously from $10.00.
Zacks reiterated its neutral rating on shares of Teva Pharmaceutical Industries Ltd (TEVA). They have a $44.00 price target on the stock. Zacks' analyst wrote, "Teva's third quarter earnings of $1.28 per ADS were 3 cents above the Zacks Consensus Estimate and 2% above the year-ago earnings. Third quarter revenues increased 14% to $5.00 billion, shy of the Zacks Consensus Estimate of $5.06 billion. Teva narrowed its outlook for 2012 and now expects earnings of $5.32 - $5.38 per ADS on total net sales of $20.1 - $20.7 billion. Earlier, the company was expecting earnings of $5.30 - $5.40 per ADS on total net sales of $20 - $21 billion in 2012. We expect EU sales to remain weak throughout the year. Longer-term, the Cephalon acquisition should help Teva expand and strengthen its branded and specialty pharma business. Moreover, the favorable Copaxone ruling is a major win for the company and should do away with any concerns regarding near-term generic competition for the product. We remain Neutral on the stock. We expect investor focus to remain on the upcoming Investor Day (December 11). "
Credit Suisse initiated coverage on shares of TJX Companies Inc (TJX). They issued a neutral rating on the stock and set a $45.00 price target.
Credit Suisse upgraded shares of Toyota Motor (TM) from a neutral rating to an outperform rating.
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