Research Analysts’ updated eps estimates for Monday, August 14th:
America Movil, S.A.B. de C.V. (NYSE:AMX) was upgraded by analysts at Zacks Investment Research from a strong sell rating to a hold rating. According to Zacks, “In the past three months, America Movil's stock price outperformed the industry's. The company’s participation in spectrum auctions to deploy 4G LTE services is a strategic business move. The decision to reduce its fixed-line-to-mobile call rates in a phased manner reflects its compliance with the norms. The company’s iPhone offer and launch of a Mexican language TV channel in the U.S. has allowed it to compete effectively. However the company, follows aggressive promotional strategy to increase its penetration in the smartphone market. Its focus on shifting from Mexico to Brazil in the wake of declining quarterly revenues is viable. Liquidity pressure and competitive Brazilian wireless market are other risks. Accumulating debt and decreasing cash flows may pose problems for the company’s credit ratings going ahead.”
AngioDynamics (NASDAQ:ANGO) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “AngioDynamics reported a mixed fourth quarter of fiscal 2017, wherein adjusted earnings beat the Zacks Consensus Estimate while revenues missed the same. The year-over-year decline at the company’s Peripheral Vascular, Vascular Access and Oncology & Surgery business segments marred revenues. Furthermore, the company expects earnings to fall sequentially in FY18. Lackluster performance by the oncology segment was primarily due to market withdrawal of the company’s flagship Acculis Microwave Tissue Ablation System, which also marred international sales. AngioDynamics has a high outstanding debt level at the end of the fourth quarter. This is likely to impose certain operating and financial restrictions, limiting the company’s core business strategies. Over the last one year, AngioDynamics has underperformed the broader industry in terms of price. However, growth in the core Angiographic Catheter business holds promise.”
Denbury Resources (NYSE:DNR) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Denbury Resources executed several capital projects which drove it’s stronger than expected second-quarter results. Denbury acquired 23% non-operated working interest in Salt Creek Field in Wyoming from Linn Energy. With its unique profile, compelling economics and unmatched infrastructure, Denbury is well positioned to deliver long-term sustainable growth. We appreciate the company’s cost-reduction initiatives and it has also raised its guidance for 2017 production. Moreover, Denbury’s niche, highly specialized strategy to increase oil recovery from mature depleted oil fields through tertiary CO2 flooding will help it grow in the future. However, Denbury Resources’ price has underperformed the broader market indices, over the last three months. We are also concerned with the high debt load of Denbury as reflected that the upstream player’s debt to equity ratio is significantly higher than the broader industry.”
DexCom (NASDAQ:DXCM) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “DexCom reported narrower-than-expected loss in the second quarter. We believe the company’s margins will continue to be under pressure in the coming quarters, owing to high product development costs and rising expenditures on research & development. Specifically, the company is expected to have lower margins on transmitter sales (in spite of the cost reduction initiatives). Additionally, cutthroat competition in the market for blood glucose monitoring devices is a major headwind. In the past one year, DexCom has underperformed the broader industry in terms of price. On the positive side, the glucose monitoring market represents significant commercial opportunity for DexCom. The company has also signed collaborative agreements with several companies, which should not only bring in cash, but also help expand its product portfolio.”
Egalet Corporation (NASDAQ:EGLT) had its overweight rating reiterated by analysts at Cantor Fitzgerald. They currently have a $7.00 price target on the stock.
Magna International (NYSE:MGA) (TSE:MG) had its target price increased by TD Securities from $55.00 to $56.00. The firm currently has a buy rating on the stock.
Maxwell Technologies (NASDAQ:MXWL) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $6.50 target price on the stock. According to Zacks, “Maxwell’s adjusted loss per share in the second quarter of 2017 was narrower than the Zacks Consensus Estimate of loss. On the other hand, the company’s top-line figure exceeded the Zacks Consensus Estimate. However, year-over-year results were mixed with the quarterly loss having widened and improved revenues. Nevertheless, Maxwell leads the growing ultracapacitor market and benefits from increasing demand for its utility infrastructure, renewable energy, public transportation and space programs. It is also making progress in the high-voltage capacitor market. Moreover, Maxwell's share price has outperformed the broader industry over the last one year. However, short-term changes in the Chinese government's deployment strategy for wind turbines is affecting Maxwell’s wind market revenues.”
Netflix (NASDAQ:NFLX) had its overweight rating reaffirmed by analysts at Piper Jaffray Companies. Piper Jaffray Companies currently has a $215.00 target price on the stock.
NetApp (NASDAQ:NTAP) had its overweight rating reissued by analysts at Piper Jaffray Companies. The firm currently has a $50.00 target price on the stock.
Orexigen Therapeutics (NASDAQ:OREX) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $2.75 price target on the stock. According to Zacks, “Orexigen’s second-quarter results were impressive, with a narrower-than-expected loss and significant year-over-year increase in Contrave sales. The company’ssole marketed drug, Contrave, targets the obesity market, which represents immense commercial potential. Contrave sales are picking up slowly. With the acquisition of U.S. rights of Contrave in Mar 2016 from Takeda, Orexigen has adopted a targeted approach for ramping up Contrave sales. Contrave should benefit from a more targeted sales effort. However, accelerated commercialization efforts have increased costs which hurts profit. We are also optimistic about the company’s collaboration agreement with several companies for the commercialization of the drug in Europe. The company’s shares underperformed the industry in the last one year. Meanwhile, Orexigen’s dependence on Contrave for growth and early stage of pipeline candidates remain potent concerns.”
OUTFRONT Media (NYSE:OUT) had its outperform rating reissued by analysts at Barrington Research. Barrington Research currently has a $26.00 price target on the stock, down from their previous price target of $29.00.
Ferrari N.V. (NYSE:RACE) had its buy rating reissued by analysts at Berenberg Bank.
Rio Tinto PLC (NYSE:RIO) had its neutral rating reiterated by analysts at Goldman Sachs Group, Inc. (The).
Shawcor (TSE:SCL) had its target price lowered by BMO Capital Markets from C$42.00 to C$36.00.
S&P Global (NYSE:SPGI) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $166.00 price target on the stock. According to Zacks, “S&P Global reported solid second-quarter 2017 results with healthy year-over-year increase in adjusted earnings and revenues. The company shares have outperformed the industry year-to-date. The company completed the acquisition of SNL Financial for $2.2 billion. SNL Financial is a strategic fit for S&P Global as its business is in sync with the S&P Capital IQ and Platts businesses, which will help the latter to avail cost cuts and revenue synergies. The company continues to impress investors by beating earnings for the 16th consecutive quarter. However, its performance is likely to be hurt by lower volume of debt securities issued in the capital markets. The company believes that Brexit could affect issuance in Europe. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities.”
V.F. Corporation (NYSE:VFC) was given a $73.00 price target by analysts at Canaccord Genuity. The firm currently has a buy rating on the stock.
Vantiv (NYSE:VNTV) had its buy rating reiterated by analysts at Instinet. Instinet currently has a $85.00 price target on the stock, up from their previous price target of $75.00.
Zoetis (NYSE:ZTS) was given a $75.00 target price by analysts at Cantor Fitzgerald. The firm currently has a buy rating on the stock.
