Some analysts believe the media reports and scattered data are representative of an real economic recovery, and see copper prices rising in the near future; possibly as early as next week.
That is contrary to hedge funds, who have betting copper prices will continue falling. They've been betting against copper since August.
According to a Bloomberg survey, of the twenty analysts queried, thirteen of them believe copper prices will rise next week. Four of them see copper falling, while the other three are neutral on copper prices in the near term.
Traders on the other hand are betting against that positive outlook, believing the price of copper will fall after moving up since November. Inventories climbing to a two-year high is the reasoning there.
Supply of copper has pressured prices downward, as they've doubled since September. Even so, Barclays (BCS) says within the next six months stockpiles will fall and shortages will return.
According to Barclays, China and North America account for 53 percent of copper demand, so how they go, overall, so will go copper. Optimistic growth estimates of 8.3 percent in the second and third quarters for China and 2.8 percent for America, may drive up the copper demand.
The question is whether this is being far too optimistic.
In the two middle quarters, Barclays sees copper demand soaring by 288,000 tons, reducing the surplus to 56,000 tons. Goldman Sachs (GS) is also bullish on copper, predicting copper will reach $9,000 in six months.
Data from the U.S. Commodity Futures Trading Commission sow traders aren't as optimistic with copper, as they hold a net-short position of 7,172 futures and options as of February 26, the highest amount since Aug. 14, compared with a net-long position of 11,413 contracts the prior week.
As measured by warehouses tracked by LME, it appears at this time that hedge funds and speculators may be closer to the truth, as inventories jumped on Wednesday to 481,225. There was a plunge in copper withdrawal orders, which dropped 68 percent since early January 2013. On March 6 they stood at a nine-month low.
Assuming the U.S. and China do grow at projected levels, the other key player in copper demand is Europe, which accounts for 17 percent of global demand. With the recession continuing there, and another year of contraction expected by the IMF, demand could dwindle significantly which would increase supply.
As usual there are mixed signals that aren't easy to interpret. But my thought is copper supply will probably continue to outpace demand, and prices in 2013 are likely to remain under some pressure.
There is simply nothing economically to suggest the global economy is growing at a pace that contradicts that high probability. Europe is really worse than is presently being reported, and it's quite possible that's the same with China and the U.S.
We need to tread carefully with copper, keeping a skeptical eye on the reports the media seem to be trying to spin so positively.
Showing posts with label Goldman Sachs. Show all posts
Showing posts with label Goldman Sachs. Show all posts
Thursday, March 7, 2013
Thursday, February 14, 2013
Commodity Revenue for Investment Banks Plunges in 2012
Revenue for investment banks from commodities dropped in 2012, with intrusive regulations and increased capital requirements resulting in less interest from clients. Another factor was volatility for the year was relatively low, also affecting interest in the sector.
The drop was a huge 25 percent from 2011, with revenue coming in at $6 billion for 2012, down significantly from the $8 billion in revenue generated the year before.
Ten banks were by consultant Coalition, including Bank of America/Merrill Lynch (BAC), Barclays (BCS), Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), JP Morgan (JPM), RBS (RBS), Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS).
A report released by Coalition said, "Low volatility and reduced client activity led to a 24 per cent drop in revenues. Energy, investor products and precious metals options businesses were notably affected.
"Performance was also subdued by ongoing concerns about increased regulation and capital sensitivity, pushing banks to re-evaluate their commodities strategies."
In its quarterly results last month, Morgan Stanley said the commodity revenue for the fourth quarter was the lowest since 1995.
The drop was a huge 25 percent from 2011, with revenue coming in at $6 billion for 2012, down significantly from the $8 billion in revenue generated the year before.
Ten banks were by consultant Coalition, including Bank of America/Merrill Lynch (BAC), Barclays (BCS), Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), JP Morgan (JPM), RBS (RBS), Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS).
A report released by Coalition said, "Low volatility and reduced client activity led to a 24 per cent drop in revenues. Energy, investor products and precious metals options businesses were notably affected.
"Performance was also subdued by ongoing concerns about increased regulation and capital sensitivity, pushing banks to re-evaluate their commodities strategies."
In its quarterly results last month, Morgan Stanley said the commodity revenue for the fourth quarter was the lowest since 1995.
Monday, February 11, 2013
Goldman: Precious Metals, Livestock to Lead Commodities Over Next Year
Goldman Sachs (NYSE: GS) predicts over the next 12 months, livestock and precious metals will lead commodities to about a 1.1 percent jump in prices.
Precious metals will climb the most according to Goldman, estimating a jump of 5 percent, while it sees livestock prices rising 4.5 percent during the same period.
In other commodity sectors, Goldman sees energy increasing 2 percent; industrial metals will drop by 1 percent; and agriculture in general will fall 3.5 percent.
“Renewed optimism has been mostly based on momentum and forward-looking survey data and far less on hard data and physical markets, which remain lackluster,” Goldman analyst Jeffrey Currie wrote in the report. “We are maintaining our price targets and recommendations and will wait for hard data and physical markets to confirm the optimism before raising estimates.”
Citing the Chinese housing completion cycle, Goldman suggest investors acquire copper. The financial giant also sees benefit in taking a position in the Brent GSCI Index in order to take advantage of the low crude inventories which has produced backwardation.
Rolling over nearby contracts to longer contracts will result in profitable returns, said Goldman.
Precious metals will climb the most according to Goldman, estimating a jump of 5 percent, while it sees livestock prices rising 4.5 percent during the same period.
In other commodity sectors, Goldman sees energy increasing 2 percent; industrial metals will drop by 1 percent; and agriculture in general will fall 3.5 percent.
“Renewed optimism has been mostly based on momentum and forward-looking survey data and far less on hard data and physical markets, which remain lackluster,” Goldman analyst Jeffrey Currie wrote in the report. “We are maintaining our price targets and recommendations and will wait for hard data and physical markets to confirm the optimism before raising estimates.”
Citing the Chinese housing completion cycle, Goldman suggest investors acquire copper. The financial giant also sees benefit in taking a position in the Brent GSCI Index in order to take advantage of the low crude inventories which has produced backwardation.
Rolling over nearby contracts to longer contracts will result in profitable returns, said Goldman.
Tuesday, October 9, 2012
Arch Coal (ACI) (DO) (FNV) (TGB) (EOX) (HNRG) (PXD) (PPP) Ratings Changes and Initiations
Arch Coal, Inc. (ACI), Diamond Offshore Drilling, Inc. (DO), Franco Nev Corp (Canada) (FNV), Taseko Mines Limited (TGB), Emerald Oil Inc (EOX), Hallador Energy Co (HNRG), Pioneer Natural Resources (PXD) and Primero Mining Corp. (Canada) (PPP) had ratings adjustments or initiations on them.
Macquarie upgraded Primero Mining Corp. (Canada) (PPP) from a "Neutral" rating to an "Outperform" rating.
Goldman Sachs (GS) downgraded Arch Coal, Inc. (ACI) from a "Neutral" rating to a "Sell" rating. They have a price target of $5.00 on the company.
Morgan Stanley (MS) downgraded Diamond Offshore Drilling, Inc. (DO) from an "Overweight" rating to an "Equal Weight" rating. They have a price target of $85.00 on the company.
TD Securities downgraded Franco Nev Corp (Canada) (FNV) from a "Buy" rating to a "Hold" rating.
Canaccord Genuity downgraded Taseko Mines Limited (TGB) from a "Buy" rating to a "Hold" rating.
Canaccord Genuity initiated coverage on Emerald Oil (EOX). They have a "Buy" rating and a price target of $1.50 on the company.
Brean Murray initiated coverage on Hallador Energy Co (HNRG). They have a "Buy" rating and a price target of $10.00 on the company.
Wells Fargo & Co. (WFC) initiated coverage on Pioneer Natural Resources (PXD). They have an "Outperform" rating on the company.
Monday, September 24, 2012
Goldman (GS) Sees Commodities Jumping 18 Percent
Over the next year, Goldman Sachs (NYSE: GS) said they see commodities providing a return of 18.2 percent, led by industrial metals and energy prices.
Interestingly, and I think wrongly, Goldman sees precious metals rising only six percent during the same period, as measured in Standard & Poor’s GSCI Enhanced Commodity Index.
Goldman Sachs analyst Jeffrey Currie said, “Apart from being attractive in its own right, we also continue to see an overweight in commodities as a hedge against the risk of the impact of sharply higher commodity prices on economic growth and other asset classes, if oil supplies were to disappoint against a backdrop of very limited spare capacity.”
As for other commodities, Goldman sees agriculture overall dropping by 5 percent over the next year, although it sees livestock climbing 4.5 percent.
For the year, expectations are the Standard & Poor’s GSCI Enhanced Commodity Index will jump 26.5 percent. For the next quarter Currie sees it up by about 8.6 percent.
Globally, these numbers are lower that projections of a 32.8 percent increase in the Tokyo Stock Exchange Topix and 25.5 percent boost in Stoxx equity index.
Tuesday, February 14, 2012
Trina Solar (TSL) (LLY) (MYL) (RAX) (SRI) Ratings, Price Targets
Trina Solar (NYSE:TSL), Eli Lilly (NYSE:LLY), Mylan Labs (NASDAQ:MYL), Rackspace (NYSE:RAX) and Stoneridge (NYSE:SRI) had ratings and price targets on them adjusted by analysts.
ISI Group initiated coverage on Eli Lilly (LLY). They placed an "Hold" rating on the company.
Mylan Labs (MYL) was upgraded by Goldman Sachs (NYSE:GS) froma "Neutral" rating to a "Buy" rating.
Rackspace (RAX) was upgraded by Benchmark Company from a "Hold" rating to a "Buy" rating. They have a price target of $60.00 on the company.
Stoneridge (SRI) was downgraded by KeyBanc Capital from a "Buy" rating to a "Hold" rating.
Trina Solar (TSL) was downgraded by Auriga from a "Buy" rating to a "Hold" rating.
ISI Group initiated coverage on Eli Lilly (LLY). They placed an "Hold" rating on the company.
Mylan Labs (MYL) was upgraded by Goldman Sachs (NYSE:GS) froma "Neutral" rating to a "Buy" rating.
Rackspace (RAX) was upgraded by Benchmark Company from a "Hold" rating to a "Buy" rating. They have a price target of $60.00 on the company.
Stoneridge (SRI) was downgraded by KeyBanc Capital from a "Buy" rating to a "Hold" rating.
Trina Solar (TSL) was downgraded by Auriga from a "Buy" rating to a "Hold" rating.
Thursday, February 2, 2012
Polypore (PPO) (CCL) (FTNT) (SNY) (ABMD) (AUXL) Ratings, Price Targets
Polypore (NYSE: PPO), Carnival Co. (NYSE: CCL), Fortinet, Inc. (NASDAQ: FTNT), Sanofi-Aventis (NYSE: SNY), Abiomed (NASDAQ: ABMD) and Auxilium Pharma (NASDAQ: AUXL) ratings and price targets.
Wunderlich initiated coverage on Polypore (PPO). They placed a “Sell” rating and a price target of $30.00 on the company.
Carnival Co. (CCL) had its price target lowered by Jefferies Group (NYSE:JEF) to $37.50.
Fortinet, Inc. (FTNT) had its price target raised by FBN Securities to $30.00.
Sanofi-Aventis (SNY) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Abiomed (ABMD) had its “Buy” rating reiterated by Wunderlich. They have a price target of $24.00 on the company.
Auxilium Pharma (AUXL) had its “Market Perform” rating reiterated by Leerink Swann.
Wunderlich initiated coverage on Polypore (PPO). They placed a “Sell” rating and a price target of $30.00 on the company.
Carnival Co. (CCL) had its price target lowered by Jefferies Group (NYSE:JEF) to $37.50.
Fortinet, Inc. (FTNT) had its price target raised by FBN Securities to $30.00.
Sanofi-Aventis (SNY) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Abiomed (ABMD) had its “Buy” rating reiterated by Wunderlich. They have a price target of $24.00 on the company.
Auxilium Pharma (AUXL) had its “Market Perform” rating reiterated by Leerink Swann.
Tuesday, January 31, 2012
Staples (SPLS) (BMY) (CI) (USAP) (SOA) (SPLS) (TSM) (MSI) (PRGS) Ratings, Price Targets
Staples, Inc. (NASDAQ: SPLS), Bristol Myers Squibb Co. (NYSE: BMY), CIGNA Co. (NYSE: CI), Universal Stainless & Alloy Products (NASDAQ: USAP), Solutia Inc. (NYSE: SOA), Staples, Inc. (NASDAQ: SPLS), Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM), Motorola Solutions (NYSE: MSI) and Progress Software (NASDAQ: PRGS) ratings and price targets.
Jefferies Group (NYSE:JEF) reiterated its "Overweight" rating on Bristol Myers Squibb Co. (BMY).
Jefferies Group reiterated its "Overweight" rating on CIGNA Co. (CI). They have a price target of $63.00 on the company.
Universal Stainless & Alloy Products (USAP) had its price target raised by Auriga from $44.00 to $54.00. They have a “Buy” rating on the company.
Solutia Inc. (SOA) was downgraded by Lazard Capital from a “Buy” rating to a “Neutral” rating.
Staples, Inc. (SPLS) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Taiwan Semiconductor Mfg. Co. Ltd. (TSM) was downgraded by Sanford C. Bernstein from an “Outperform” rating to a “Market Perform” rating.
Motorola Solutions (MSI) was upgraded by Argus from a “Hold” rating to a “Buy” rating. They have a price target of $55.00 on the company.
Progress Software (PRGS) was upgraded by JMP Securities from a “Market Perform” rating to an “Outperform” rating. They have a price target of $27.00 on the company.
Jefferies Group (NYSE:JEF) reiterated its "Overweight" rating on Bristol Myers Squibb Co. (BMY).
Jefferies Group reiterated its "Overweight" rating on CIGNA Co. (CI). They have a price target of $63.00 on the company.
Universal Stainless & Alloy Products (USAP) had its price target raised by Auriga from $44.00 to $54.00. They have a “Buy” rating on the company.
Solutia Inc. (SOA) was downgraded by Lazard Capital from a “Buy” rating to a “Neutral” rating.
Staples, Inc. (SPLS) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Taiwan Semiconductor Mfg. Co. Ltd. (TSM) was downgraded by Sanford C. Bernstein from an “Outperform” rating to a “Market Perform” rating.
Motorola Solutions (MSI) was upgraded by Argus from a “Hold” rating to a “Buy” rating. They have a price target of $55.00 on the company.
Progress Software (PRGS) was upgraded by JMP Securities from a “Market Perform” rating to an “Outperform” rating. They have a price target of $27.00 on the company.
Monday, January 30, 2012
CF (DF) (MSFT) (C) (TEN) (OMC) (PFS) Ratings, Price Targets
CF Industries (NYSE:CF), Microsoft (NASDAQ:MSFT), Citigroup (NYSE:C), Tenneco (NYSE:TEN), Omnicom (NYSE:OMC) and Provident Financial (NYSE:PFS) ratings and price targets.
Microsoft (MSFT) was upgraded by Atlantic Equities from a "Neutral" rating to an "Overweight" rating.
Goldman Sachs (NYSE:GS) upgraded Citigroup (C) from a "Neutral" rating to a "Buy" ratings.
Tenneco (TEN) was upgraded by Wells Fargo (NYSE:WFC) from a "Market Perform" rating to an "Outperform" rating.
CF Industries (DF) was downgraded by Dahlman Rose from a "Buy" rating to a "Hold" rating. They have a price target of $180.00 on the company.
Omnicom (OMC) was downgraded by BMO Capital from an "Outperform" rating to a "Market Perform" rating.
Provident Financial (PFS) was downgraded by Janney Montgomery Scott from a "Buy" rating to a "Neutral" rating.
Microsoft (MSFT) was upgraded by Atlantic Equities from a "Neutral" rating to an "Overweight" rating.
Goldman Sachs (NYSE:GS) upgraded Citigroup (C) from a "Neutral" rating to a "Buy" ratings.
Tenneco (TEN) was upgraded by Wells Fargo (NYSE:WFC) from a "Market Perform" rating to an "Outperform" rating.
CF Industries (DF) was downgraded by Dahlman Rose from a "Buy" rating to a "Hold" rating. They have a price target of $180.00 on the company.
Omnicom (OMC) was downgraded by BMO Capital from an "Outperform" rating to a "Market Perform" rating.
Provident Financial (PFS) was downgraded by Janney Montgomery Scott from a "Buy" rating to a "Neutral" rating.
Wednesday, January 25, 2012
Yahoo! (YHOO) (WAT) (AVA) (BOH) (CBE) (CSX) Ratings, Price Targets
Yahoo! Inc. (NASDAQ: YHOO), Waters Corporation (NYSE: WAT), Avista (NYSE: AVA), Bank of Hawaii (NYSE: BOH), Cooper Industries PLC (NYSE: CBE) and CSX (NYSE: CSX) ratings and price targets.
Waters Corporation (WAT) had its “Neutral” rating reiterated by Citigroup (NYSE:C). They have a price target of $83.00 on the company.
Yahoo! Inc. (YHOO) had its “Overweight” rating reiterated by Piper Jaffray (NYSE:PJC).
Avista (AVA) had its “Neutral” rating reiterated by DA Davidson. They have a price target of $26.50 on the company.
Bank of Hawaii (BOH) had its “Neutral” rating reiterated by DA Davidson. They have a price target of $48.00 on the company.
Cooper Industries PLC (CBE) had its “Neutral” rating reiterated by Goldman Sachs (NYSE:GS).
CSX (CSX) had its “Overweight” rating reiterated by JPMorgan Chase & Co. (NYSE:JPM).
Waters Corporation (WAT) had its “Neutral” rating reiterated by Citigroup (NYSE:C). They have a price target of $83.00 on the company.
Yahoo! Inc. (YHOO) had its “Overweight” rating reiterated by Piper Jaffray (NYSE:PJC).
Avista (AVA) had its “Neutral” rating reiterated by DA Davidson. They have a price target of $26.50 on the company.
Bank of Hawaii (BOH) had its “Neutral” rating reiterated by DA Davidson. They have a price target of $48.00 on the company.
Cooper Industries PLC (CBE) had its “Neutral” rating reiterated by Goldman Sachs (NYSE:GS).
CSX (CSX) had its “Overweight” rating reiterated by JPMorgan Chase & Co. (NYSE:JPM).
Tuesday, January 24, 2012
Potash (POT) (UPL) (BCEI) (PXP) (SPH) (NRG) Ratings, Price Targets
Potash (NYSE: POT), Ultra Petroleum (NYSE: UPL), Bonanza Creek Energy (NASDAQ: BCEI), Plains Exploration & Production Company (NYSE: PXP), Suburban Propane Partners, L.P. (NYSE: SPH) and NRG Energy (NYSE: NRG) ratings and price targets.
Ultra Petroleum (UPL) was downgraded by Global Hunter Securities from an “Accumulate” rating to a “Neutral” rating. They have a price target of $36.00 on the company, down from $47.00.
Morgan Stanley (NYSE:MS) initiated coverage on Bonanza Creek Energy (BCEI). They placed an “Overweight” rating on the company.
Potash (POT) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating. They have a price target of $48.00 on the company.
Plains Exploration & Production Company (PXP) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating. They have a price target of $46.00 on the company.
Suburban Propane Partners, L.P. (SPH) was downgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “Market Perform” rating.
NRG Energy (NRG) had its “Neutral” rating reiterated by UBS AG (NYSE:UBS).
Ultra Petroleum (UPL) was downgraded by Global Hunter Securities from an “Accumulate” rating to a “Neutral” rating. They have a price target of $36.00 on the company, down from $47.00.
Morgan Stanley (NYSE:MS) initiated coverage on Bonanza Creek Energy (BCEI). They placed an “Overweight” rating on the company.
Potash (POT) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating. They have a price target of $48.00 on the company.
Plains Exploration & Production Company (PXP) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating. They have a price target of $46.00 on the company.
Suburban Propane Partners, L.P. (SPH) was downgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “Market Perform” rating.
NRG Energy (NRG) had its “Neutral” rating reiterated by UBS AG (NYSE:UBS).
Tuesday, November 15, 2011
Regeneron (REGN) (RVBD) (SDT) (CATM) (CFX) (CHKM) Ratings, Price Targets
Regeneron Pharma (REGN), Riverbed Technology, Inc. (RVBD), SandRidge Mississippian Trust I (SDT), Cardtronics (CATM), Colfax Co. (CFX) and Chesapeake Midstream Partners LP (CHKM) ratings and price targets.
Bank of America (NYSE:BAC) reiterated its “Underperform” rating on Regeneron Pharma (REGN). They have a price target of $62.00 on the company.
RBC Capital upgraded shares of Riverbed Technology, Inc. (RVBD) from a “sector perform” rating to an “outperform” rating. The firm has a $35.00 price target on the company, up from $28.00.
Wunderlich reiterated its “Buy” rating on SandRidge Mississippian Trust I (SDT). They have a price target of $27.75 on the company.
Barrington Research raised its price target on Cardtronics (CATM) from $28.00 to $32.00. They have an “Outperform” rating on the company.
UBS AG (NYSE:UBS) upgraded Colfax Co. (CFX) from a “Neutral” rating to a “Buy” rating.
Goldman Sachs (NYSE:GS) upgraded Chesapeake Midstream Partners LP (CHKM) from a “Neutral” rating to a “Buy” rating.
Bank of America (NYSE:BAC) reiterated its “Underperform” rating on Regeneron Pharma (REGN). They have a price target of $62.00 on the company.
RBC Capital upgraded shares of Riverbed Technology, Inc. (RVBD) from a “sector perform” rating to an “outperform” rating. The firm has a $35.00 price target on the company, up from $28.00.
Wunderlich reiterated its “Buy” rating on SandRidge Mississippian Trust I (SDT). They have a price target of $27.75 on the company.
Barrington Research raised its price target on Cardtronics (CATM) from $28.00 to $32.00. They have an “Outperform” rating on the company.
UBS AG (NYSE:UBS) upgraded Colfax Co. (CFX) from a “Neutral” rating to a “Buy” rating.
Goldman Sachs (NYSE:GS) upgraded Chesapeake Midstream Partners LP (CHKM) from a “Neutral” rating to a “Buy” rating.
Wednesday, November 9, 2011
Best Buy (BBY) (GBL) (ALTR) (APEI) (DISH) (DTSI) Price Targets Changed
Best Buy Co., Inc. (NYSE: BBY), Gamco Investors Inc. (NYSE: GBL), Altera (NASDAQ: ALTR), American Public Education (NASDAQ: APEI), DISH (NASDAQ: DISH) and DTS (NASDAQ: DTSI) had price targets on them adjusted by analysts.
Best Buy Co., Inc. (BBY) had its price target raised by Jefferies (NYSE:JEF) to $27.00. They have a “Buy” rating on the company.
Gamco Investors Inc. (GBL) had its price target raised by Goldman Sachs (NYSE:GS) to $41.00.
Altera (ALTR) had its price target raised by Jefferies (NYSE:JEF) to $46.00.
American Public Education (APEI) had its price target lowered by Deutsche Bank (NYSE:DB) to $40.00.
DISH (DISH) had its price target lowered by Wunderlich to $24.00.
DTS (DTSI) had its price target lowered by Piper Jaffray (NYSE:PJC) to $27.00.
Best Buy Co., Inc. (BBY) had its price target raised by Jefferies (NYSE:JEF) to $27.00. They have a “Buy” rating on the company.
Gamco Investors Inc. (GBL) had its price target raised by Goldman Sachs (NYSE:GS) to $41.00.
Altera (ALTR) had its price target raised by Jefferies (NYSE:JEF) to $46.00.
American Public Education (APEI) had its price target lowered by Deutsche Bank (NYSE:DB) to $40.00.
DISH (DISH) had its price target lowered by Wunderlich to $24.00.
DTS (DTSI) had its price target lowered by Piper Jaffray (NYSE:PJC) to $27.00.
Monday, October 24, 2011
Baxter (BAX) (UNP) (ALK) (CPHD) (ALXN) (ALTR) Ratings, EPS, PTs
Baxter International Inc. (NYSE: BAX), Union Pacific (NYSE: UNP), Alaska Air (NYSE: ALK), Cepheid (NASDAQ: CPHD), Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) and Altera (NASDAQ: ALTR) ratings, EPS and price target changes.
Deutsche Bank (NYSE:DB) reiterated its "Buy" rating on Union Pacific (UNP).
UBS AG (UBS) raised its EPS estimates on Alaska Air (ALK). They have a “Buy” rating and a price target of $81.00 on the company.
Cepheid (CPHD) had its price target raised by Jefferies (NYSE:JEF) to $42.00.
Jefferies (NYSE:JEF) raised its EPS estimates on Alexion Pharmaceuticals, Inc. (ALXN). They have a “Hold” rating and a price target of $58.00 on the company.
Altera (ALTR) had its price target lowered by Deutsche Bank (NYSE:DB) to $37.00.
Baxter International Inc. (BAX) had its price target lowered by Goldman Sachs (NYSE:GS) to $66.00. They have a “Buy” rating on the company.
Deutsche Bank (NYSE:DB) reiterated its "Buy" rating on Union Pacific (UNP).
UBS AG (UBS) raised its EPS estimates on Alaska Air (ALK). They have a “Buy” rating and a price target of $81.00 on the company.
Cepheid (CPHD) had its price target raised by Jefferies (NYSE:JEF) to $42.00.
Jefferies (NYSE:JEF) raised its EPS estimates on Alexion Pharmaceuticals, Inc. (ALXN). They have a “Hold” rating and a price target of $58.00 on the company.
Altera (ALTR) had its price target lowered by Deutsche Bank (NYSE:DB) to $37.00.
Baxter International Inc. (BAX) had its price target lowered by Goldman Sachs (NYSE:GS) to $66.00. They have a “Buy” rating on the company.
Friday, October 21, 2011
Riverbed (RVBD) (EW) (PLCM) (CMA) (EFX) Ratings and Price Targets
Riverbed Technology, Inc. (NASDAQ: RVBD), Edwards Lifesciences (NYSE: EW), Polycom (NASDAQ: PLCM), Comerica (NYSE: CMA) and Equifax (NYSE: EFX) ratings and price targets.
Riverbed Technology, Inc. (RVBD) had its price target lowered by Needham & Company from $46.00 to $41.00. Theyhave a “Buy” rating on the company.
Edwards Lifesciences (EW) had its price target lowered by Jefferies (NYSE:JEF) to $92.00.
Polycom (PLCM) was downgraded by Piper Jaffray (NYSE:PJC) from an “Overweight” rating to a “Neutral” rating.
Comerica (CMA) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
Equifax (EFX) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Riverbed Technology, Inc. (RVBD) had its price target lowered by Needham & Company from $46.00 to $41.00. Theyhave a “Buy” rating on the company.
Edwards Lifesciences (EW) had its price target lowered by Jefferies (NYSE:JEF) to $92.00.
Polycom (PLCM) was downgraded by Piper Jaffray (NYSE:PJC) from an “Overweight” rating to a “Neutral” rating.
Comerica (CMA) was downgraded by SunTrust (NYSE:STI) from a “Buy” rating to a “Neutral” rating.
Equifax (EFX) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.
Friday, September 23, 2011
Under Armour (UA) (HOV) (IPXL) (SNN) (JNJ) Downgraded
Under Armour, Inc. (NYSE: UA), Hovnanian Enterprises (NYSE: HOV), Impax Laboratories, Inc. (NASDAQ: IPXL), Smith & Nephew (NYSE: SNN) and Johnson & Johnson (NYSE: JNJ) were downgraded by analysts.
Under Armour, Inc. (UA) was downgraded by Needham & Company from a “Buy” rating to a “Hold” rating.
Hovnanian Enterprises (HOV) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating.
Impax Laboratories, Inc. (IPXL) was downgraded by Goldman Sachs (NYSE:GS) to a “Sell” rating.
Smith & Nephew (SNN) was downgraded by Citigroup (NYSE:C) to a “Sell” rating.
Johnson & Johnson (JNJ) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating. They have a price target of $74.00 on the company.
Under Armour, Inc. (UA) was downgraded by Needham & Company from a “Buy” rating to a “Hold” rating.
Hovnanian Enterprises (HOV) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating.
Impax Laboratories, Inc. (IPXL) was downgraded by Goldman Sachs (NYSE:GS) to a “Sell” rating.
Smith & Nephew (SNN) was downgraded by Citigroup (NYSE:C) to a “Sell” rating.
Johnson & Johnson (JNJ) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating. They have a price target of $74.00 on the company.
Thursday, September 22, 2011
Apple (AAPL) (ORCL) (ADBE) (OPTR) (AZO) (FDX) Numbers, Ratings Updates
Apple, Inc (NASDAQ: AAPL), Oracle (NASDAQ: ORCL), Adobe Systems (NASDAQ: ADBE), Optimer Pharmaceutic (NASDAQ: OPTR), AutoZone, Inc. (NYSE: AZO) and FedEx (NYSE: FDX) had ratings and numbers updated.
Adobe Systems (ADBE) had its price target lowered by Stifel Nicolaus from $42.00 to $38.00. They have a “Buy” rating on the company.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on Oracle (ORCL).
Goldman Sachs (NYSE:GS) reiterated its "Hold" rating on Apple, Inc (AAPL).
BMC Equities Research initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “Buy” rating on the company.
AutoZone, Inc. (AZO) had its price target raised by Morgan Keegan to $365.00.
FedEx (FDX) had its price target lowered by Sterne Agee to $115.00. They have a “Buy” rating on the company.
Adobe Systems (ADBE) had its price target lowered by Stifel Nicolaus from $42.00 to $38.00. They have a “Buy” rating on the company.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on Oracle (ORCL).
Goldman Sachs (NYSE:GS) reiterated its "Hold" rating on Apple, Inc (AAPL).
BMC Equities Research initiated coverage on Optimer Pharmaceutic (OPTR). They placed a “Buy” rating on the company.
AutoZone, Inc. (AZO) had its price target raised by Morgan Keegan to $365.00.
FedEx (FDX) had its price target lowered by Sterne Agee to $115.00. They have a “Buy” rating on the company.
Monday, June 6, 2011
Ratings on (GEOI) (DRYS) (UA) (ENS) (FRX) Upgraded by Analysts
Analysts upgraded ratings on GeoResources, Inc. (NASDAQ: GEOI), DryShips Inc. (NASDAQ: DRYS), Under Armour, Inc. (NYSE: UA), EnerSys (NYSE: ENS) and Forest Laboratories, Inc. (NYSE: FRX).
Global Hunter Securities upgraded GeoResources, Inc. (GEOI) from a “neutral” rating to an “accumulate” rating.
Goldman Sachs (NYSE:GS) upgraded DryShips Inc. (DRYS) from a “neutral” rating to a “buy” rating. They have a price target of $6.00 on the company.
Longbow Research upgraded Under Armour, Inc. (UA) from a “neutral” rating to a “buy” rating. They have a price target of $82.00 on the company.
Ardour Capital upgraded EnerSys (ENS) from an “accumulate” rating to a “buy” rating. They have a price target of $42.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) upgraded Forest Laboratories, Inc. (NYSE: FRX) from a “neutral” rating to an “overweight” rating. They have a price target of $41.00 on the company.
Global Hunter Securities upgraded GeoResources, Inc. (GEOI) from a “neutral” rating to an “accumulate” rating.
Goldman Sachs (NYSE:GS) upgraded DryShips Inc. (DRYS) from a “neutral” rating to a “buy” rating. They have a price target of $6.00 on the company.
Longbow Research upgraded Under Armour, Inc. (UA) from a “neutral” rating to a “buy” rating. They have a price target of $82.00 on the company.
Ardour Capital upgraded EnerSys (ENS) from an “accumulate” rating to a “buy” rating. They have a price target of $42.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) upgraded Forest Laboratories, Inc. (NYSE: FRX) from a “neutral” rating to an “overweight” rating. They have a price target of $41.00 on the company.
Thursday, June 2, 2011
Analysts' Responses to Nokia (NOK) Transition Woes
Nokia (NYSE:NOK), unsurprisingly, experienced several downgrades and a lowering of its price target from analysts, as the company announced it is struggling with its lower-end mobile phone models as it transitions to the Windows Phone 7 platform of Microsoft (NASDAQ:MSFT) for the more profitable smartphone segment.
Wedbush slashed their price target on Nokia Co. (NOK) from $8.50 to $7.00. They have a “neutral” rating on the company.
Sanford C. Bernstein downgraded Nokia Co. from a “market perform” rating to an “underperform” rating.
Canaccord Genuity downgraded Nokia Co. from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $11.00.
Goldman Sachs (NYSE:GS) downgraded Nokia Co. from a “buy” rating to a “neutral” rating.
WestLB downgraded Nokia Co. from a “neutral” rating to a “reduce” rating.
Wedbush slashed their price target on Nokia Co. (NOK) from $8.50 to $7.00. They have a “neutral” rating on the company.
Sanford C. Bernstein downgraded Nokia Co. from a “market perform” rating to an “underperform” rating.
Canaccord Genuity downgraded Nokia Co. from a “buy” rating to a “hold” rating. They have a price target of $8.00 on the company, down from $11.00.
Goldman Sachs (NYSE:GS) downgraded Nokia Co. from a “buy” rating to a “neutral” rating.
WestLB downgraded Nokia Co. from a “neutral” rating to a “reduce” rating.
Wednesday, June 1, 2011
Vale's (VALE) Short and Long-Term Outlook Seems Strong
The short and long-term prospects of Vale SA (NYSE:VALE) look solid, although there is the overhand and uncertainty surrounding the interference of the socialist government of Brazil and what it may do in any given circumstance they disapprove of, like the direction former CEO Roger Agnelli was taking the company, which resulted in the Brazilian government pressuring the company to replace him with its man, Murilo Ferreira, who is now CEO of the resources company.
Other than the risk of the Brazilian government, the sector itself looks solid in the near and long term, with the company looking to double production capacity over the five or six years.
The other major risk to the company is its currency, which the company is heavily exposed to because about 65 percent of costs are in reais.
In the very short term iron ore prices are expected to remain unchanged, although they are still sitting near record highs.
Vale Chief Executive Officer Murilo Ferreira said, "The price will remain practically unchanged for the third quarter."
Concerning credit tightening in China, Ferreira added, "I don't believe in a slowdown in China, but rather a movement in the economic cycle. I expect a strong second semester for China."
Analysts also see strong Chinese demand and supply challenges offering support to the company.
Goldman Sachs (NYSE:GS) raised their price target on Vale (VALE) to $44.00. They have a “buy” rating on the company.
Vale closed Tuesday at $32.26, gaining $0.38, or 1.19 percent.
Other than the risk of the Brazilian government, the sector itself looks solid in the near and long term, with the company looking to double production capacity over the five or six years.
The other major risk to the company is its currency, which the company is heavily exposed to because about 65 percent of costs are in reais.
In the very short term iron ore prices are expected to remain unchanged, although they are still sitting near record highs.
Vale Chief Executive Officer Murilo Ferreira said, "The price will remain practically unchanged for the third quarter."
Concerning credit tightening in China, Ferreira added, "I don't believe in a slowdown in China, but rather a movement in the economic cycle. I expect a strong second semester for China."
Analysts also see strong Chinese demand and supply challenges offering support to the company.
Goldman Sachs (NYSE:GS) raised their price target on Vale (VALE) to $44.00. They have a “buy” rating on the company.
Vale closed Tuesday at $32.26, gaining $0.38, or 1.19 percent.
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