Apple Inc. (NASDAQ: AAPL) is not exactly tanking with the rest of the market each day. Two analyst calls showed very positive trends, and one firm even hiked the target to well over $500 on the stock.
Applied Materials Inc. (NASDAQ: AMAT) was reiterated with a “Buy” rating this last Wednesday by Argus. The big part of the call is that it was with $19 target. That leaves close to 80% upside if hit, and that is way above the $13.30 consensus. It seems far too lofty for us to agree with, even if we did name it a great value tech stock.
Cisco Systems, Inc. (NASDAQ: CSCO) is one that everyone still seems to love to hate at the moment. Not the firm called Auriga. It raised its rating on Thursday to Buy and lifted its $16 target to $20 for the stock. That out to be a boost for John Chambers and his reorganization, if it goes through well. Oh, and the stock was also raised on Friday to Sector Perform with a $17 price target by RBC Capital Markets.
Corning Inc. (NYSE: GLW) had a rough week as it forecast that its glass panel shipments are going to be soft for the rest of the year. The glassworks leader saw its shares maintained with a Buy rating but the price target was cut to $25.00 at BofA/ML. The larger cut came from Citigroup, which hosted the conference it presented at, and the firm cut estimates and lowered its price target objective down to $16.00. This is still a deep value stock by our take, but as noted… There is a reason value stocks often look so cheap. Sometimes they can be value traps.
Dunkin’ Brands Group (NASDAQ: DNKN) saw its quiet period end this week. It was given only moderate ratings from most: Equal-Weight at Morgan Stanley, Market Perform at Wells Fargo, Overweight at JPMorgan, and Neutral at BofA/ML. The killer was the SELL rating thrown up by underwriter Goldman Sachs. How often do you see an underwriter initiate a stock with a Sell rating after they helped bring the stock public?
Lennar Corporation (NYSE: LEN) is in the crummy business of being a homebuilder. The last good thing that happened in this sector was, well, umm, it’s been too long to remember. Shares fell with the market and it closed out the week at $13.48. The price target is all the way up at $18.00 for a projected upside of 33% if it comes together. Here is the amazing part: the consensus price target is actually above $20 on this one.
Lululemon Athletica Inc. (NASDAQ: LULU) had a negative earnings report on Friday but a very cautious call on valuations came from Credit Suisse on Thursday. That call could have saved $3.00 a share if a buyer would have bought on Friday rather than Thursday.