Analysts’ Updated EPS Estimates for August, 16th (A, AAP, ALBO, ANGI, CNFR, COH, DXCM, DXTR, ECC, FCPT)
Agilent Technologies (NYSE:A) had its overweight rating reaffirmed by analysts at J P Morgan Chase & Co. The firm currently has a $70.00 target price on the stock.
Advance Auto Parts (NYSE:AAP) had its buy rating reissued by analysts at UBS AG. UBS AG currently has a $118.00 target price on the stock, down from their previous target price of $155.00.
Cowen and Company began coverage on shares of Biodel (NASDAQ:ALBO). They issued an outperform rating on the stock.
Piper Jaffray Companies began coverage on shares of Angie’s List (NASDAQ:ANGI). The firm issued an overweight rating on the stock.
Conifer Holdings (NASDAQ:CNFR) had its hold rating reissued by analysts at Boenning Scattergood.
Coach (NYSE:COH) had its outperform rating reaffirmed by analysts at Credit Suisse Group. The firm currently has a $51.00 target price on the stock, down from their previous target price of $55.00.
DexCom (NASDAQ:DXCM) had its overweight rating reaffirmed by analysts at Piper Jaffray Companies. Piper Jaffray Companies currently has a $78.00 price target on the stock, down from their previous price target of $87.00.
Ladenburg Thalmann Financial Services initiated coverage on shares of Dextera Surgical (NASDAQ:DXTR). They issued a buy rating on the stock.
Eagle Point Credit (NYSE:ECC) had its buy rating reaffirmed by analysts at National Securities. They currently have a $24.00 target price on the stock. The analysts wrote, “• In 2Q17, ECC had NII + realized gains of $0.53/share, shy of both our estimate ($0.60) and consensus ($0.57). The weighted average yield of CLO equity investments made during the quarter was 15.89%, compared with 16.30% the quarter prior. The decline in effective yields linked Q/Q was almost entirely due to spread compression. With significant complacency in loan markets, prices are stubbornly high, making the reinvestment environment highly challenging for CLOs. While the company had 10 refinances on the quarter (7 of which were reflected in 2Q17 yields, 3 of which will fall into 3Q17) this was not enough to fully offset the pressure on asset yields.
• Despite the challenges, ECC posted portfolio cash distributions (PCD) per share of $1.75; flat with the prior quarter, although we note that in 1Q17 only 0.4% of PCD was from inaugural distributions (which are outsized) while in 2Q17 this composition jumped to 35.1%. Nonetheless, even without the inaugural distributions the run rate of PCD is significantly above GAAP NII, a trend we expect to continue.
• We expect the loan market to dislocate in 2018 as a result of what we see as overwhelming complacency that has dragged on for what we feel has been far too long. As a result, we expect NAV to improve through year-end 2017 before we model it to decrease significantly in 2018. We model the unrealized losses driving the NAV decreases we estimate to substantially improve effective yield and thus earnings.
• We are revising our 2017 NII+realized gains/share estimate to $2.27 from $2.47 and our 2018 NII+realized gains/share estimate to $2.45 from $2.58.”
Four Corners Property Trust (NYSE:FCPT) had its buy rating reissued by analysts at Ladenburg Thalmann Financial Services.
Kite Pharma (NASDAQ:KITE) had its buy rating reiterated by analysts at HC Wainwright.
Citigroup Inc. began coverage on shares of KapStone Paper and Packaging Corporation (NYSE:KS). Citigroup Inc. issued a buy rating on the stock.
HC Wainwright began coverage on shares of Spectrum Pharmaceuticals (NASDAQ:SPPI). HC Wainwright issued a buy rating and a $14.00 target price on the stock.
STORE Capital Corporation (NYSE:STOR) had its hold rating reissued by analysts at Ladenburg Thalmann Financial Services.
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