Research Analysts’ price target changes for Wednesday, August 30th:
Alimera Sciences (NASDAQ:ALIM) was given a $5.00 target price by analysts at HC Wainwright. The firm currently has a buy rating on the stock.
Apricus Biosciences (NASDAQ:APRI) was given a $5.00 price target by analysts at HC Wainwright. The firm currently has a buy rating on the stock.
Big Lots (NYSE:BIG) was given a $64.00 target price by analysts at Loop Capital. The firm currently has a buy rating on the stock.
The Blackstone Group L.P. (NYSE:BX) had its target price lowered by Credit Suisse Group from $46.00 to $45.00. The firm currently has an outperform rating on the stock.
Ciena Corporation (NYSE:CIEN) was given a $31.00 price target by analysts at UBS AG. The firm currently has a buy rating on the stock.
Dynagas LNG Partners (NYSE:DLNG) was given a $18.00 price target by analysts at Maxim Group. The firm currently has a buy rating on the stock.
Eagle Bulk Shipping (NASDAQ:EGLE) was given a $5.00 price target by analysts at Maxim Group. The firm currently has a hold rating on the stock. The analysts wrote, “We are raising 2H17 estimates for EGLE based on what we predict could be a stronger rate environment for the handymax segment.””
Total SA (EPA:FP) was given a €52.00 ($61.90) price target by analysts at Macquarie. The firm currently has a buy rating on the stock.
Lanxess AG (ETR:LXS) was given a €66.00 ($78.57) target price by analysts at HSBC Holdings plc. The firm currently has a neutral rating on the stock.
Mesoblast Limited (NASDAQ:MESO) was given a $14.00 price target by analysts at Maxim Group. The firm currently has a buy rating on the stock. The analysts wrote, “Mesoblast reported year-end (FYE June 30) with a net loss of $77M and ended the period with $46M in cash. The company completed a $40M raise on August 29, 2017 and currently has $84M in cash on the balance sheet.””
Merck & (NYSE:MRK) had its price target lowered by Credit Suisse Group from $75.00 to $74.00. The firm currently has an outperform rating on the stock.
Aurubis AG (ETR:NDA) was given a €62.00 ($73.81) price target by analysts at Macquarie. The firm currently has a sell rating on the stock.
Prospect Capital Corporation (NASDAQ:PSEC) had its target price lowered by National Securities from $7.00 to $6.00. National Securities currently has a sell rating on the stock. The analysts wrote, “• PSEC’s quarterly dividend was cut from $0.25/share to $0.18/share for the quarter ending 12/31/17. We had modeled the dividend to be reduced to $0.17/share in the quarter. We expect another cut to $0.16/share in fiscal 3Q19. Non-accruals certainly weighed on earnings for the quarter, increasing to $286.4 million at amortized cost of 4.8% of the portfolio from $209.5 million or 3.3% of the portfolio Q/Q. True to form, PSEC realized losses of $97.1 million during the quarter largely pertaining to the disposition of four previous non-accruals although as of 3/31/17 these non-accruals had unrealized depreciation of $68.3 million combined.
• Somewhat miraculously, CLO equity cash yields increased Q/Q and GAAP yields were flat. While we appreciate the optionality that a CLO provides, specifically pertaining to refinances and resets during times of tightening credit spreads, many collateral managers have also completed substantial refinances and resets and still had yields decrease. We have always remained skeptical of Prospect’s structured credit accounting and are quite frankly amazed that GAAP yields could be stable in a quarter where the overwhelming complacency in loan markets has continued to hinder the reinvestment opportunities and thus crimping cash flows despite the partial offset of refinances.
• We are revising our fiscal 2018 NII/share estimate to $0.72 from $0.79 and are rolling out our fiscal 2019 NII/share estimate of $0.73/share. “
Prosiebensat 1 Media SE (ETR:PSM) was given a €26.50 ($31.55) target price by analysts at Macquarie. The firm currently has a sell rating on the stock.
Sorrento Therapeutics (NASDAQ:SRNE) was given a $20.00 price target by analysts at HC Wainwright. The firm currently has a buy rating on the stock.
