Research Analysts’ Updated EPS Estimates for August, 14th (AGFS, AGN, AIT, BCS, EIGR, ENS, ETP, FBR, FCH, HON)
AgroFresh Solutions (NASDAQ:AGFS) had its neutral rating reiterated by analysts at Citigroup Inc..
Allergan PLC. (NYSE:AGN) had its buy rating reaffirmed by analysts at Argus. Argus currently has a $280.00 price target on the stock.
Applied Industrial Technologies (NYSE:AIT) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $61.00 target price on the stock. According to Zacks, “Over the last 12 months, Applied Industrial's shares outperformed the industry. The company reported better-than-expected fourth-quarter fiscal 2017 results. Quarterly adjusted earnings of 79 cents per share surpassed the Zacks Consensus Estimate by a penny. In addition, net sales in the reported quarter handily beat the Zacks Consensus Estimate by 3.4%. The company believes that robust upstream business, sturdy performance of the U.S. fluid power business, and superior customer servicing skills will likely bolster its top-line performance in the quarters ahead. Moreover, sound restructuring moves, greater productivity and increased cost discipline are projected to strengthen the company's near-term bottom-line performances. Notably, the company remains committed towards its shareholders.”
Barclays PLC (NYSE:BCS) had its buy rating reiterated by analysts at Deutsche Bank AG.
Eiger BioPharmaceuticals (NASDAQ:EIGR) had its outperform rating reiterated by analysts at Wedbush. The firm currently has a $8.05 price target on the stock, down from their previous price target of $34.00.
Enersys (NYSE:ENS) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “EnerSys’ first-quarter fiscal 2018 adjusted earnings of $1.12 missed the Zacks Consensus Estimate by a penny and was down 1.8% from the year-ago tally. Also, the company’s shares have yielded a negative return over the past six months, steeper than the industry’s average decline. Volatility in cost of commodities (especially lead) has weighed upon the company’s profitability. To combat the lead price rise, EnerSys has already initiated price increases butits taking much longer for the results to show. EnerSys is in the midst of a transformation, wherein it has been undertaking multiple long-term investments to boost growth. However, these efforts are impacting the company’s gross profit percentage adversely in the near-term. Despite these negatives, EnerSys’ dominant position in the lead-acid battery market, diligent cost reduction efforts and financial health add to its strength.”
Sunoco Logistics Partners (NYSE:ETP) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Units of Energy Transfer Partners have displayed weak price movement both in absolute and relative terms, losing about 36% over the last year, versus 13% decline for industry to which it belongs. The pipeline operator slipped to a Q2 loss from a string of consecutive profits since years owing to escalating costs and poor execution of its projects. Much criticism and legal challenges faced by ETP's $3.8 billion mega project-Dakota Pipeline- has affected the partnership adversely. The pipeline which is facing strong opposition from environmentalists and Sioux Tribe may have to shut its operations if the court's verdict does not come in favor of ETP in the upcoming hearings in late August and September. We also need to factor ETP's lofty distribution yield, negative earnings surprise history and rising leverage which can affect its credit metrics adversely. Considering all these factors, we take a bearish stance on the prospects of ETP.”
Fibria Celulose (NYSE:FBR) was upgraded by analysts at Citigroup Inc. from a neutral rating to a buy rating.
FelCor Lodging Trust (NYSE:FCH) had its neutral rating reaffirmed by analysts at FBR & Co. The firm currently has a $7.00 price target on the stock, down from their previous price target of $8.00.
Honeywell International (NYSE:HON) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Honeywell reported healthy second-quarter 2017 results, beating the Zacks Consensus Estimate by 1.1%. The company’s diversified business portfolio has the potential to earn consistent above-average returns and mitigate operating risks. With a flexible yet disciplined focus on cost and productivity, Honeywell remains focused on increasing its presence in high-growth regions. Additionally, the company is building a robust pipeline of new products and has regularly fine-tuned its portfolio to focus on core businesses. However, the company expects a tepid demand pattern for its business jets and mobile scanners in 2017 due to sluggish global growth, volatility in crude oil prices and a tempered Chinese economy. Adverse foreign currency translations and volatility in commodity prices related to Brexit are further likely to peg back its growth momentum. High R&D costs could also be a drag on its margin and affect profitability.”
Hormel Foods Corporation (NYSE:HRL) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Hormel Foods’ shares look overvalued and have underperformed the industry for the past three months. The company reported weaker-than-expected results for second-quarter fiscal 2017. Quarterly earnings came in at 39 cents per share, missing the Zacks Consensus Estimate of 40 cents. The company believes that lower turkey prices, extensive business rivalry and rise in operational expenses might hurt the near-term margins of its Jennie-O Turkey Store segment. Also, outbreak of livestock diseases, input price inflation or a stronger U.S. dollar might adversely affect results in the quarters ahead. Over the last 90 days, Zacks Consensus Estimate for the stock has moved south for fiscal 2017.”
Summit Hotel Properties (NYSE:INN) was downgraded by analysts at Bank of America Corporation from a buy rating to an underperform rating.
Wells Fargo & Company assumed coverage on shares of Kala Pharmctls (NASDAQ:KALA). Wells Fargo & Company issued an outperform rating on the stock.
Bank of America Corporation initiated coverage on shares of Kala Pharmctls (NASDAQ:KALA). Bank of America Corporation issued a buy rating and a $33.00 price target on the stock.
Michael Kors Holdings Limited (NYSE:KORS) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $51.00 price target on the stock. According to Zacks, “Shares of Michael Kors took a sharp “U–turn” following the company’s positive earnings streak for the ninth straight quarter and upbeat fiscal 2018 guidance. The bullish run in the stock price helped it to outpace the industry in the past three months. Revenues also came ahead of the estimate for the second quarter in row on account of robust retail sales performance. The company now envisions fiscal 2018 total revenue to be nearly $4.275 billion, up from the previous estimate of about $4.25 billion. On the other hand, Michael Kors’ acquisition of Jimmy Choo will help diversify portfolio and tap international markets. The company has been constantly deploying resources to expand product offerings, open new stores, build shop-in-shops and upgrade eCommerce platform. We note that despite the possibility of heavy investments weighing on margins in the short term, management continues to take up strategic endeavors.”
Model N (NYSE:MODN) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $15.00 target price on the stock. According to Zacks, “Model N is a leading provider of revenue management solutions primarily to life sciences and high technology companies. Third-quarter results reflected company's expanding product portfolio post the Revitas acquisition. Also, a growing customer base, and cost synergies from acquisitions are benefiting the company. The company continues to win deals both in the life sciences and high technology market that will drive top-line growth. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. We note that the company has outperformed the industry on a year-to-date basis. However, lack of international customers, mounting operating loss, continuing cash burn and stretched valuation are major headwinds.”
Micron Technology (NASDAQ:MU) had its buy rating reaffirmed by analysts at Citigroup Inc.. Citigroup Inc. currently has a $45.00 price target on the stock.
NVIDIA Corporation (NASDAQ:NVDA) had its reduce rating reissued by analysts at Instinet. They currently have a $110.00 price target on the stock, up from their previous price target of $90.00.
Bank of America Corporation began coverage on shares of RLJ Lodging Trust (NYSE:RLJ). They issued a neutral rating on the stock.
RWE AG (FRA:RWE) had its buy rating reaffirmed by analysts at DZ Bank AG.
Snap (NYSE:SNAP) had its neutral rating reaffirmed by analysts at UBS AG. UBS AG currently has a $12.00 target price on the stock, down from their previous target price of $19.00.
Tiffany & Co. (NYSE:TIF) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $100.00 target price on the stock. According to Zacks, “Tiffany's omni-channel platform, store expansion plans, tapping of new markets and venturing into new revenue generating areas has aided it to outpace the industry so far in the year. Additionally, the company delivered fourth straight quarter of earnings beat, when it posted first-quarter fiscal 2017 results. While net sales grew year over year, it lagged the estimate. Sturdy sales performance in Asia-Pacific was largely offset by softness witnessed in Japan, Americas and Europe. Sales in Americas and Europe have declined for five straight quarters now. Moreover, foreign currency headwinds and cautious consumer spending also remain causes of concern. However, the company plans to counter these obstacles through strategic initiatives and cost containment efforts. Management projects mid-single-digit-percentage rise in earnings and low-single-digit percentage growth in net sales in fiscal 2017. Of late, estimates have been stable.”
Talanx AG (ETR:TLX) had its sell rating reissued by analysts at DZ Bank AG.
Bank of America Corporation began coverage on shares of TPG RE Finance Trust (NASDAQ:TRTX). They issued a buy rating and a $20.00 price target on the stock.
Telefonica Brasil (NYSE:VIV) was downgraded by analysts at Zacks Investment Research from a hold rating to a strong sell rating. According to Zacks, “Over the past three months, the stock price of Telefonica Brasil declined 1.76% whereas the industry's grew 0.53%. Impact of wireless substitution, intense competition in fixed line voice business, exposure to stringent regulatory measures and foreign exchange currency risks are some near-term risks that will affect the company's growth prospects. Telefonica Brasil's wireline business will suffer in future due to significant amount of line disconnections. Broadband competition will also continue to grow. However, the company continues to rule the Brazilian wireless market following the establishment of Vivo as a commercial brand for all services. Telefonica Brasil is also investing in technology upgrades and broadband network infrastructure expansion to retain itself in the competitive industry.”
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