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Top Analyst Upgrades & Downgrades (APC, CFN, CBI, COLM, DRYS, ENR, HMC, IDIX, JACK, MGLN, MON, NSM, NVO, SPW, TM, VFC)

Administrator — Mon, 11 Apr 2011 12:22:38 +0000

These are the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Monday morning.

Anadarko Petroleum Corp. (NYSE: APC) Reiterated Hold at Argus.
Carefusion Corporation (NYSE: CFN) Cut to Neutral but kept $30 target at BofA/ML.
Chicago Bridge & Iron (NYSE: CBI) Raised to Outperform at Credit Suisse.
Columbia Sportswear Company (NASDAQ: COLM) Raised to Buy at BofA/ML.
DryShips, Inc. (NYSE: DRYS) named as Bear of the Day at Zacks.
Energizer Holdings Inc. (NYSE: ENR) Cut to Neutral at UBS.
Honda Motor Co., Ltd. (NYSE: HMC) Cut to Sell at Citigroup.
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) Raised to Buy at BofA/ML.
Jack In The Box. Inc. (NASDAQ: JACK) Cut to Underperform at Credit Suisse.
Magellan Health Services, Inc. (NASDAQ: MGLN) Started as Underperform and $50 target at BofA/ML.
Monsanto Co. (NYSE: MON) Raised to Buy at Deutsche Bank.
National Semiconductor Corporation (NYSE: NSM) Cut to Hold at Deutsche Bank; Cut to Neutral at Gleacher.
Novo Nordisk (NYSE: NVO) Raised to Overweight at JPMorgan.
SPX Corporation (NYSE: SPW) Started as Outperform with $100 target at Credit Suisse.
Toyota Motor Corporation (NYSE: TM) Cut to Sell at Citigroup.
V.F. Corporation (NYSE: VFC) named as Bull of the Day at Zacks.

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JON C. OGG

Filed under: Analyst Calls Tagged: APC, CBI, CFN, COLM, DRYS, ENR, HMC, IDIX, JACK, MGLN, MON, NSM, NVO, SPW, TM, VFC

More Apparel Deals Coming? (PVH, WRC, VFC, RL, ARO, ANF, OXM, LULU, UA, COLM)

247wallst — Mon, 15 Mar 2010 18:16:59 +0000

Phillips-Van Heusen Corp. (NYSE: PVH) has traders and investors speculating about or pondering which other apparel companies may become acquisition targets or which could end up in ‘mergers of equals’ as companies aim to strengthen their market positions. The PVH bid to acquire Tommy Hilfiger from Apax Partners for about $3 billion is technically a leveraged deal because the market cap for PVH was around $2.3 billion before it was announced. But now PVH shares are up almost 9% around $52.00 and we saw a 52-week high this morning of $54.64.

This deal may have put others in the spotlight. Warnaco Group Inc. (NYSE: WRC), V.F. Corporation (NYSE: VFC), Polo Ralph Lauren Corporation (NYSE: RL), Aeropostale, Inc. (NYSE: ARO), Abercrombie & Fitch Co. (NYSE: ANF), Oxford Industries Inc. (NASDAQ: OXM), Lululemon Athletica Inc. (NASDAQ: LULU), Under Armour, Inc. (NYSE: UA), Columbia Sportswear Company (NASDAQ: COLM) and many more are companies are now worth a second look in the sector. Most of these are more likely acquirers rather than targets, although not in all cases.

We wanted to take a sector review here on each as far as market capitalization rates, brands, and other issues which could or would come into play if more consolidation heads the way of clothing and accessories.

Warnaco Group Inc. (NYSE: WRC), with a $2.1 billion market cap, was in the M&A spotlight back during wave we saw from 2005 to 2007 when companies could get easy access to deal financing. The problem is that they are deemed a consolidator rather than a consolidation victim. In short, a buyer rather than a seller if the company has its own choice. It has brands such as Calvin Klein, Speedo, and Chaps.

V.F. Corporation (NYSE: VFC) is a monster in the sector, and one which likes owning brands. With a strong stock and a market cap close to $8.75 billion, VF can have the pick of the brands it wants to own. It has acquired The North Face, Vans, and others.

Filed under: Apparel, Mergers and Buy Outs, Private Equity, Retail, Rumors Tagged: ANF, ARO, COLM, LULU, OXM, PVH, RL, UA, VFC, WRC

52-Week High Club

247wallst — Fri, 16 Oct 2009 20:13:09 +0000

Tempur-pedic International Inc (NYSE: TPX) shares rallied over 3% to a yearly high of $22.29 after the company raised its FY09 estimates yesterday afternoon.

Columbia Sportswear (NASDAQ: COLM) hit a yearly high of $44.41 after the company was upgraded by analysts at Sterne Agee.

Google Inc (NASDAQ: GOOG) shares rallied over 3% to a yearly high of $554.34 after the company beat analysts’ earnings estimates.

Garrett W. McIntyre

Posted in Analyst Calls, Apparel, Earnings Tagged: COLM, GOOG, TPX

Top 10 Analyst Upgrades and Downgrades (AMGN, AVY, COLM, DSGX, EJ, JASO, KG, SCSS, SPWRA, THC)

247wallst — Fri, 14 Aug 2009 11:51:41 +0000

These are the ten top analyst upgrades,downgrades, and initiations we have seen early this Friday morning with roughly two hours until the market opens:

Amgen (AMGN) Cut to Hold at Citigroup.
Avery Dennison (AVY) Raised to Overweight at JPMorgan.
Columbia Sportswear (COLM) Raised toOverweight at Barclays.
Descartes Systems (DSGX) Started as Overweight at Thomas Weisel.
eHouse China (EJ) Raised to Outperform at Oppenheimer.
JA Solar (JASO) Cut to Equal Weight t Barclay.
King Pharma (KG) Cut to Hold at Needham.
Select Comfort (SCSS) Reinitiated as Buy at KeyBanc.
SunPower (SPWRA) Started as Buy at Needham.
Tenet Healthcare (THC) Raisd to Outperform at Baird.

JON C. OGG
August 14, 2009

Posted in Analyst Calls Tagged: AMGN, AVY, COLM, DSGX, EJ, JASO, KG, SCSS, SPWRA, THC

Goldman Sachs Disses Sporting Apparel (UA, COLM, NKE)

247wallst — Tue, 24 Feb 2009 14:33:48 +0000

If you thought things were tough in the economy for retailers and apparel manufacturers, Goldman Sachs thinks they are going to get worse. Under Armour, Inc. (NYSE: UA), Columbia Sportswear Company (NASDAQ: COLM), and Nike, Inc. (NYSE: NKE) were all part of the pessimistic call.

Under Armour, Inc. (NYSE: UA) was started with a “sell” rating and a price target of $12.00 per share. Columbia Sportswear (NASDAQ: COLM) was also given a “sell” rating, and its target is $26.00. These targets are both under the current share prices as Under Armour closed at $14.12 and Columbia closed at $28.70 yesterday.

The “less negative” call was a “neutral” rating initiation on Nike, Inc. (NYSE: NKE) with a $48.00 target. The only good news is that this is at least over $6.00 of implied upside in Nike based upon a $41.61 close Monday.

Jon C. Ogg
February 24, 2009

Posted in Analyst Calls, Apparel, Retail Tagged: COLM, NKE, UA

5 Friday Stock Winners Despite Market Carnage (CLS, COLM, INSU, IPCR, WDC)

247wallst — Fri, 24 Oct 2008 08:53:04 +0000

The few winners out there on this ugly friday morning are few and far between, but here are some of the stocks that have managed to actually trade higher despite futures having traded limit down and despite the massive tank at the open.

Celestica (NYSE: CLS) is trading up 13% at $4.15 on valuation after yesterday’s earnings. Its 52-week range is $3.60 to $9.86.
Columbia Sportswear Company (NASDAQ: COLM) is up almost 6% at $32.65 after yesterday’s earnings, 52-week range is $29.02 to $52.99.
Insituform Technologies Inc. (NASDAQ: INSU) is up 7% at $10.55 after earnings yesterday, but only 23,000 shares; prior 52-week range $9.26 to $19.15.
IPC Holdings Ltd. (NASDAQ: IPCR) up 14% at $23.00 after earnings and note conversions yesterday. 52-week range $19.05 to $33.75.
Western Digital Corp. (NYSE: WDC) is up almost 7% at $13.96 after yesterday’s earnings were better then rival Seagate; its 52-week range is $12.00 to $40.00.

Jon C. Ogg
October 24, 2008

Posted in HI/LOW, Technology Companies Tagged: CLS, COLM, INSU, IPCR, WDC

Goldman Sachs Drops Specialty Apparel Names (COLM, NKE, UA, LULU, FL, GCO, FINL, KSWS)

247wallst — Tue, 20 May 2008 06:49:48 +0000

Goldman Sachs has noted that an analyst named Brad Cragin has left the firm, and his former targets and ratings in specialty apparel names are no longer in effect. These are some of the specialty apparel names that have been dropped from coverage:

Columbia Sportswear Co. (NASDAQ: COLM),
Nike Inc. (NYSE: NKE),
Under Armour (NYSE: UA),
lululemon athletica inc. (NASDAQ: LULU),

There were also many names in footwear and shoe retailing that were dropped:

Foot Locker (NYSE: FL)
Genesco (NYSE: GCO)
Finish Line (NASDAQ: FINL)
K-Swiss Inc. (NASDAQ: KSWS).

As a reminder, these are not true downgrades. This coverage was dropped as the analyst has left the firm and it appears to be in a rapid enough manner that Goldman Sachs was not able to transition coverage away to another analyst.

Jon C. Ogg
May 20, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" weekly newsletter and he does not own securities in the companies he covers.

Top 10 Pre-Market Analyst Calls (AAPL, AMAT, BMC, COLM, SCOR, KLAC, NVLS, TJX, SONC, TIN)

247wallst — Mon, 07 Apr 2008 06:56:51 +0000

These are the top analyst calls that 247WallSt.com is focusing on this Monday morning:

Apple (NASDAQ: AAPL) Raised to Overweight from Market Weight at Thomas Weisel.
Applied Materials (NASDAQ: AMAT) Cut To Neutral from Outperform at Credit Suisse.
BMC Software (NYSE: BMC) Cut to Neutral from Buy at Goldman Sachs.
Columbia Sportswear (NASDAQ: COLM) Cut to Sell From Hold at Citigroup.
ComScore(NASDAQ: SCOR) Raised to Buy from Hold at Jefferies.
KLA Tencor (NASDAQ: KLAC) Raised to Buy from Hold at Citigroup.
Novellus Systems (NASDAQ: NVLS) Raised to Equal-weight from Underweight By Lehman.
TJX (NYSE: TJX) Cut to Hold from Buy at Citigroup.
Sonic (NASDAQ: SONC) Started as Overweight at Lehman Brothers.
Temple-Inland (NYSE: TIN) Raised to Buy from Hold at Citigroup.

Jon C. Ogg
April 7, 2008

Top 10 Pre-Market Analyst Calls (CSIQ, COLM, DTE, ERTS, KMP, MER, MU, NKE, ZQK, YHOO)

247wallst — Wed, 30 Jan 2008 07:30:47 +0000

These are not the only research calls we are looking at in pre-market trading, although these are the initial calls that grabbed our attention early on:

Canadian Solar (NASDAQ: CSIQ) raised to Outperform from Market Perform at Oppenheimer.
Columbia Sportswear (NASDAQ: COLM) downgraded to Neutral from Overweight at JPMorgan.
DTE Energy (NYSE: DTE) and NRG Energy (NYSE: NRG) both were raised to Buy at UBS.
Electronic Arts (NASDAQ: ERTS) raised to Outperform from Peer Perform at Bear Stearns.
Kinder Morgan partners (NYSE: KMP) raised to Overweight from Neutral at JPMorgan.
Merrill Lynch (NYSE: MER) downgraded to Underperform from Market Perform at Oppenheimer.
Micron Tech (NYSE: MU) started as Buy at UBS.
Nike (NYSE: NKE) raised to Overweight from Neutral at JPMorgan.
Quicksilver (NYSE: ZQK) raised to Overweight from Neutral at JPMorgan.
Yahoo! (NASDAQ: YHOO) cut to Hold from Buy at Citigroup; cut to Market Perform from Outperform at Oppenheimer.

Jon C. Ogg
January 30, 2008