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Top Analyst Upgrades & Downgrades (MO, AMZN, UHAL, AMLN, ACI, CAJ, CMCSA, DE, DLR, ENS, EQIX, INCY, LO, WFR, NWL, NVDA, PM, RENN)

Administrator — Thu, 16 Feb 2012 13:11:40 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Thursday morning.

Altria Group Inc. (NYSE: MO) Started as Hold at Jefferies.
Amazon.com Inc. (NASDAQ: AMZN) Cut to Equal-weight at Morgan Stanley.
AMERCO, Inc. (NASDAQ: UHAL) named as Bull of the Day at Zacks.
Amylin Pharmaceuticals Inc. (NASDAQ: AMLN) Started as Outperform with $22 target at Credit Suisse.
Arch Coal, Inc. (NYSE: ACI) named as Bear of the Day at Zacks.
Canon, Inc. (NYSE: CAJ) Cut to Neutral at Credit Suisse.
Comcast Corporation (NASDAQ: CMCSA) Reiterated Buy and raised target to $37 at BofA/ML.
Deere & Co. (NYSE: DE) Cut to Market Perform Wells Fargo.
Digital Realty Trust, Inc. (NYSE: DLR) started as Overweight with $76 target at Morgan Stanley.
EnerSys Inc. (NYSE: ENS) named as Value Stock of the Day at Zacks.
Equinix, Inc. (NASDAQ: EQIX) Reiterated Buy with $155 target at BofA/ML.
Incyte Corporation (NASDAQ: INCY) Cut to Equal-weight at Morgan Stanley.
Lorillard, Inc. (NYSE: LO) Started as Buy at Jefferies.
MEMC Electronic Materials, Inc. (NYSE: WFR) Raised to Hold at Jefferies.
Newell Rubbermaid, Inc. (NYSE: NWL) Reiterated Buy and raised target to $24 at BofA/ML.
NVIDIA Corporation (NASDAQ: NVDA) Cut to Neutral at BofA/ML.
Philip Morris International Inc. (NYSE: PM) Started as Hold at Jefferies.
Renren Inc. (NYSE: RENN) Reinstated as Neutral at Credit Suisse.

If you enjoyed the top analyst upgrades and downgrades, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ACI, AMLN, AMZN, CAJ, CMCSA, DE, DLR, ENS, EQIX, INCY, LO, MO, NVDA, NWL, PM, RENN, UHAL, WFR

24/7 Wall St. Closing Bell (DELL, KMB, SWY, RAX, BAC, ANF, CMCSA, XEC, DE, DVN, INCY, NOR, TEVA, ZNGA, BPAX, CSKI, IPSU, ALNY, CYBI)

Paul Ausick — Wed, 15 Feb 2012 21:07:27 +0000

The three major US stock indexes opened slightly higher this morning, but the DJIA almost immediately turned south and remained in negative territory all session. The Nasdaq composite and S&P 500 turned south in the early afternoon. China’s central bank said that it would continue to buy European sovereign debt and do its part to help the Eurozone recover. But nothing much has happened on the continent today to build up hopes for avoiding a Greek default. The afternoon release of the FOMC minutes cooled markets even more as the minutes showed little enthusiasm for another round of quantitative easing. Crude oil is higher today following Iran’s announcement that it was cutting off supplies to six European countries (see our coverage here). WTI is up 1.05% at $101.80/barrel and Brent is up 1.34% at $118.92. Gold rose 0.6% to settle at $1,728.10/ounce.

The unofficial closing bells put the DJIA down more than 97 points to 12,780.95 (-0.76%), the NASDAQ fell 16 points (-0.55%) to 2,915.83, and the S&P 500 fell -0.54% or more than 7 points to 1,343.23.

There were several analyst upgrades and downgrades today, including Dell Inc. (NASDAQ: DELL) cut to ‘underperform’ at Sterne Agee; Kimberley-Clark Corp. (NYSE: KMB) cut to ‘neutral’ at Janney; Safeway Inc. (NYSE: SWY) raised to ‘outperform’ at Credit Suisse; Rackspace Hosting Inc. (NYSE: RAX) cut to ‘market perform’ at Raymond James; and Bank of America Corp. (NYSE: BAC) cut to ‘market perform’ at Bernstein.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Abercrombie & Fitch Co. (NYSE: ANF) is up 8.2% at $48.25; Comcast Corp. (NASDAQ: CMCSA) is up 4.5% at $28.48 after posting a new 52-week high of $29.05 earlier today; Cimarex Energy Co. (NYSE: XEC) is up nearly 19% at $81.66; Deere & Co. (NYSE: DE) is down -5.4% at $84.21; Devon Energy Corp. (NYSE: DVN) is up about 7% at $71.64 (more coverage here); Incyte Corp. (NASDAQ: INCY) is down -5.9% at $17.19; Noranda Aluminum Holding Corp. (NYSE: NOR) is down -2% at $10.63; Teva Pharmaceuticals Inc. (NASDAQ: TEVA) is up 3.4% at $45.01; and Zynga Inc. (NASDAQ: ZNGA) is down nearly -15% at $12.21.

Other standouts from today include the following stocks:

Guggenheim Solar ETF (NYSE: TAN) completed a 1:10 reverse split this morning. We have more coverage here.

BioSante Pharmaceuticals Inc. (NASDAQ: BPAX) is up more than 30% at $0.99. The company’s testosterone replacement drug for men has been approved by the FDA and will be co-marketed with Teva.

China Sky One Medical Inc. (NASDAQ: CSKI) China Sky One is down more than -28% at $1.10. Volume is nearly 10x the daily average of about 285,000 shares traded. The nutritional supplement company’s shares were stopped following an announcement of the resignations of 26 managers and the reported illness of the CEO.

Imperial Sugar Co. (NASDAQ: IPSU) is down nearly -14% at $5.75. Investors are likely taking profits today, following a week-long run-up in the share price.

Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) is up nearly 15% at $12.59. The biopharmaceutical company priced a secondary share offering at $10.75. More coverage here.

Cybex International Inc. (NASDAQ: CYBI) is up more than 19% at $1.81 after posting a new 52-week high of $2.01 earlier this morning. The sporting goods maker posted better-than-expected earnings this morning.

Stay tuned for Thursday. Federal Reserve chairman Ben Bernanke is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Housing starts
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Producer price index
10:00 a.m. – Philadelphia Fed survey
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year TIPS auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ALNY, ANF, BAC, BPAX, CMCSA, CSKI, CYBI, DE, DELL, DVN, INCY, IPSU, KMB, NOR, RAX, SWY, TEVA, XEC, ZNGA

Top Biotech Stock Picks For 2012 (ARIA, DNDN, GILD, HGSI, ILMN, INCY, JAZZ, LIFE, THRX, IBB, XBI)

Administrator — Wed, 28 Dec 2011 12:01:53 +0000

The biotech sector has seen its share of ups and downs in 2011 and prior years. It is almost always the case that some of the top performing stocks each year come from this sector due to the possibility of a company rising from no sales at all to having the next blockbuster drug. 24/7 Wall St. has evaluated the biotech sector for its prospects in 2012 and identified those companies which are expected to outperform the broad market.

Our screen process did not limit the scope to positive earnings, but we did use a minimum market valuation of $1 billion to avoid the smaller and even more speculative names in an already speculative sector. The companies are all expected to rise 20% more and include the following stocks tied to biotech and the biohealth sectors: ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA); Dendreon Corporation (NASDAQ: DNDN); Gilead Sciences, Inc. (NASDAQ: GILD); Human Genome Sciences, Inc. (NASDAQ: HGSI); Illumina, Inc. (NASDAQ: ILMN); Incyte Corporation (NASDAQ: INCY); Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ); Life Technologies Corporation (NASDAQ: LIFE); and Theravance, Inc. (NASDAQ: THRX).

Unfortunately, some of these are biotech implosions where companies have run into problems. Others are pre-revenue and could be tomorrow’s drug giants in cancer and other indicated treatments. Some may even be acquired. We have included the current share price and recent price history, as well as based the implied upside upon the consensus price target objective from Thomson Reuters. Recent fundamental data and color has been added on each if applicable.

There are also the ETF products via the iShares Nasdaq Biotechnology (NASDAQ: IBB) and the SPDR S&P Biotech (NYSE: XBI). The iShares variation trades at $104.30 and its 52-week range is $83.96 to $110.02. Gilead (and Pharmasset) would be the largest implied holding of the iShares ETF with almost 16% weighting combined. The SPDR variation trades at $66.48 and its 52-week range is $47.01 to $75.17. The SPDR also only contains ARIAD (and Pharmasset) of the biotechs with the most implied upside below.

ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) currently trades around $12.50, has a market cap of about $1.65 billion, and the Thomson Reuters consensus price target of $15.91 leaves an implied upside of about 27%. Its 52-week trading range is $5.04 to $13.50 and 2011 has been a year where the company’s share price has come close to challenging the prior highs from 1999 to 2000. It is still pre-revenue for the most part and losses are expected to continue at least through 2012. ARIAD is focused around oncology and its shares are up from a $10.42 per share offering of almost 25 million shares that raised nearly $250 million for the company. This was one of the good secondary offerings that allows the company to raise development and commercialization funds without becoming dependent solely upon a single partner.

Dendreon Corporation (NASDAQ: DNDN) is another implosion story due to lower adoption rates of PROVENGE for prostate cancer, although some are hoping and expecting that the new reimbursement rates (and physician clarity) may help the company regain some of its lost footing. At $7.58, the market cap is barely $1.1 billion and the $11.05 Thomson Reuters price target leaves an implied upside of over 45%. To show just how bad this one has gone, the 52-week trading range is $6.46 to $43.96.

Also Read: Small Caps With 50% Upside in 2012

Gilead Sciences, Inc. (NASDAQ: GILD) recently traded at $39.88 and it is one of the biotech giants with a market cap of about $30 billion. THe 52-week trading range is $34.45 to $43.49 and the Thomson Reuters consensus price target of $48.86 leaves an implied upside of 22.5%. The last time Gilead was above $50.00 was in early 2009. Gilead is somewhat surprising to see on the list considering its controversial $11 billion acquisition of Pharmasset when that target acquisition is not expected to generate sales for at least another year. The company has new HIV medication that is helping to boost the value but the company is diversifying to include more target markets.

Filed under: Biotech, Drug companies, Editor's Picks, Healthcare, Medical Tagged: ARIA, DNDN, GILD, HGSI, IBB, ILMN, INCY, JAZZ, LIFE, THRX, XBI

Top Analyst Upgrades & Downgrades (AA, AMGN, ADSK, CVC, CBI, LFC, INCY, LNKD, THC, TWC, TIVO)

Administrator — Mon, 05 Dec 2011 13:29:18 +0000

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

Alcoa, Inc. (NYSE: AA) Cut to Neutral from Buy at Goldman Sachs.
Amgen Corporation (NASDAQ: AMGN) named as value stock of the day by Zacks.
Autodesk, Inc. (NASDAQ: ADSK) Cut to Sell from Neutral with new $32 target at Goldman Sachs.
Cablevision Systems Corporation (NYSE: CVC) downgraded to Market Perform from outperform at Wells Fargo.
Chicago Bridge & Iron Company N.V. (NYSE: CBI) maintained as Buy but removed from the Conviction Buy List at Goldman Sachs.
China Life Insurance (NYSE: LFC) maintained Underperform with $35.00 price target and named as Bear of the Day by Zacks.
Incyte Corporation (NASDAQ: INCY) Cut to Neutral from Buy at Citigroup.
LinkedIn Corporation (NYSE: LNKD) Raised to Equal-Weight at Evercore; Reiterated “Hold” on growth versus valuation and overhang concerns by Argus.
Tenet Healthcare Corporation (NYSE: THC) Raised to Outperform with $5.50 target by Zacks and named as the key Bull of the Day.
Time Warner Cable Inc. (NYSE: TWC) Raised to Outperform from Market Perform at Wells Fargo.
TiVo Inc. (NASDAQ: TIVO) Started as Buy with $13 price target at UBS.

Here is a summary of the top analyst upgrades and downgrades from this weekend in a summary format for last week’s top (and a few lousy) Wall Street research calls.

JON C. OGG

Filed under: Analyst Calls Tagged: AA, ADSK, AMGN, CBI, CVC, INCY, LFC, LNKD, THC, TIVO, TWC

Measuring Pre-Earnings Upside in Biotechs (DNDN, HGSI, GILD, AMLN, ARIA, INCY, IBB, XBI, BBH)

Administrator — Wed, 19 Oct 2011 15:34:50 +0000

We have compiled a detailed list of expected upside in the biotech sector. The sector has consolidated and now there is about to be a rush of earnings reports from tomorrow’s emerging drug companies. Many are hoping for the return of upside in shares of Dendreon Corporation (NASDAQ: DNDN) and in Human Genome Sciences, Inc. (NASDAQ: HGSI). Unfortunately, those have turned into high-speed flameouts due to company-specific news events.

It appears as though Wall Street favors Gilead Sciences, Inc. (NASDAQ: GILD) in the large cap biotech stocks over its peers with more than 18% implied upside. Other smaller mid-cap biotechs with a high degree of expected upside were Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) of 32%, ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) of 50%, and Incyte Corporation (NASDAQ: INCY) of over 60%.

Here is the full report on expected upside on these and more than a dozen other large-cap and mid-cap biotech stocks.

Human Genome Sciences, Inc. (NASDAQ: HGSI) is up again, a day after buyout rumors have circulated for nearly a 100% premium. We would caution that analysts still have close to the same price target on their own as the reported buyout price target.

Dendreon Corporation (NASDAQ: DNDN) is also still trying to get past its implosion after disappointing Provenge sales. It has even gone as far as cutting its headcount. Analysts still see big upside of well above 40% but the entire analyst bias is now very cautious.

Incyte Corporation (NASDAQ: INCY) had a very rough July to August period and that analyst upside may be phantom upside that has not yet adjusted for the price drops of the recent past. We have an early December decision date from the FDA for its myelofibrosis treatment.

As far as how these all compares to the key ETFs, the following should be considered:

iShares Nasdaq Biotechnology (NASDAQ: IBB) up 0.5% at $96.50 and the 52-week range is $83.96 to $110.02. Total assets under management are approximately $1.26 billion.

SPDR S&P Biotech (NYSE: XBI) up 0.5% at $63.79 and the 52-week range is $54.71 to $75.86. Total assets under management are approximately $500 million.

Biotech HOLDRs (NYSE: BBH) are up 0.2% on extremely thin volume and the 52-week range is $88.01 to $114.92. Total assets under management are approximately $240 million.

JON C. OGG

Filed under: Analyst Calls, Biotech, ETF, Value Investing Tagged: AMLN, ARIA, BBH, DNDN, GILD, HGSI, IBB, INCY, XBI

Big Biotech: Best of 2010, Outlook in 2011 (ILMN, ITMN, INCY, THRX, VPHM, DNDN, AMGN, GILD, CELG, HGSI, ACOR)

Administrator — Wed, 29 Dec 2010 18:47:47 +0000

2010 is ending and 2011 is about to begin. It has been a very interesting year for major biotech stocks, albeit with lower rewards than seen in 2009 as there have been far fewer ten-baggers with more than 1,000% gains in 2010. Still, we have gone through a review of the “big biotechs” with a market cap cut off of $1 billion or higher. What we found was a series of the big 2010 winners and we also found which of the big biotech players may have the most upside ahead in 2011. Biohealth Investor has two separate groups reviewing those with the most implied upside for 2011 and also another showing those with best performance so far this year in 2010.

The big winners of 2010 have so far included shares of Illumina Inc. (NASDAQ: ILMN), InterMune Inc. (NASDAQ: ITMN), Incyte Corporation (NASDAQ: INCY), Theravance Inc. (NASDAQ: THRX), and ViroPharma Inc. (NASDAQ: VPHM). We have taken a look at what has driven the gains as well as what the prospects are for 2011 and beyond. FULL REPORT

Dendreon Corporation (NASDAQ: DNDN) appears to have the most implied upside of the $1 billion and higher catgory, but others included are Amgen Inc. (NASDAQ: AMGN), Gilead Sciences, Inc. (NASDAQ: GILD), Celgene Corporation (NASDAQ: CELG), Human Genome Sciences, Inc. (NASDAQ: HGSI), Incyte Corporation (NASDAQ: INCY), and Acorda Therapeutics, Inc. (NASDAQ: ACOR). The full list is available showing the implied upside and we have added color and commentary on each. FULL REPORT

Stay tuned for many more sector updates in many sectors with winners of 2010 and the outlook for 2011 and beyond!

JON C. OGG

Filed under: Analyst Calls, Biotech, Drug companies, FDA, Healthcare, Medical, Research, Trading Alert, Value Investing Tagged: ACOR, AMGN, CELG, DNDN, GILD, HGSI, ILMN, INCY, ITMN, THRX, VPHM

Top Analyst Upgrades and Downgrades (ARO, ARRS, BIOD, XCO, INCY, LEAP, MPEL, PCS, SANM, S, TC, VZ)

Administrator — Tue, 02 Nov 2010 12:05:34 +0000

These are some of this Tuesday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Aeropostale, Inc. (NYSE: ARO) Cut to Underweight at KeyBanc.
Arris Group Inc. (NASDAQ: ARRS) Started as Hold at Needham.
Biodel, Inc. (NASDAQ: BIOD) Cut to Neutral at JPMorgan; Cut to Neutral at Ledanberg Thalmann.
EXCO Resources Inc. (NYSE: XCO) Cut to Market Perform at BMO.
Incyte Corp. (NASDAQ: INCY) Cut to Market Perform at Leerink Swann.
Leap Wireless International Inc. (NASDAQ: LEAP) Started as Market Perform at William Blair.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Raised to Buy at CLSA (Asia).
MetroPCS Communications, Inc. (NYSE: PCS) Started as Market Perform at William Blair.
Sanmina-SCI Corp. (NASDAQ: SANM) Cut to Hold at Collins Stewart.
Sprint Nextel (NYSE: S) Started as Underperform at William Blair.
Thompson Creek Metals Company Inc. (NYSE: TC) Raised to Outperform at RBC.
Verizon Communications (NYSE: VZ) Started as Market Perform at William Blair.

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JON C. OGG

Filed under: Analyst Calls Tagged: ARO, ARRS, BIOD, INCY, LEAP, MPEL, PCS, S, SANM, TC, VZ, XCO

Top 10 Analyst Upgrades, Downgrades, Initiations (BIIB, INCY, MOT, CMCSA, JWN, ODP, PALM, RIMM, RCL, YUM)

247wallst — Mon, 02 Nov 2009 13:25:53 +0000

These are this Monday’s top ten analyst upgrades, downgrades, and initiations seen from Wall Street research firms:

Biogen Idec (NASDAQ: BIIB) Raised to Buy at Jefferies.
Incyte Corporation (NASDAQ: INCY) Started as Outperform at Leerink Swann.
Motorola (NYSE: MOT) Raised to Buy at Citigroup.
Comcast (NASDAQ: CMCSA) Cut to Hold at Kaufman Bros.
Nordstrom Inc. (NYSE: JWN) Raised to Buy at Deutsche Bank.
Office Depot (NYSE: ODP) Cut to Underperform at Credit Suisse.
Research-in-Motion (NASDAQ: RIMM) Cut to Sell at Citigroup.
Royal Caribbean (NYSE: RCL) Raised to Outperform at Wells Fargo.
YUM! Brands (NYSE: YUM) Raised to Outperform at RBC Capital.

You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG

Posted in Analyst Calls Tagged: BIIB, CMCSA, INCY, JWN, MOT, ODP, PALM, RCL, RIMM, YUM

Top Pre-Market Analyst Upgrades (FCX, INCY, JEF, LPX, TU, WBS)

247wallst — Tue, 07 Oct 2008 06:40:25 +0000

Below are some of the top early bird analyst upgrades we have seen early this morning with more than two hours to the open:

Freeport-McMoRan (FCX) Raised to Outperform at FBR.
Incyte (INCY) Started as Buy at Stanford Group.
Jefferies (JEF) Raised to Market Perform at Wachovia.
Louisiana-Pacific (LPX) Raised to Sector Perform at RBC.
TELUS Corp. (TU) Raised to Buy at UBS.
Webster Financial (WBS) Raised to Buy at Sander O’Neill.

Jon C. Ogg
October 7, 2008

Posted in Analyst Calls Tagged: FCX, INCY, JEF, LPX, TU, WBS

Early Bird Pre-Market Analyst Upgrades & Downgrades (ADTN, EYE, HOC, INCY, PTR, CEG, KSS, VNO, WFMI)

247wallst — Thu, 18 Sep 2008 06:27:46 +0000

These are some of the early bird analyst calls we are seeing in stocks this Thursday morning which could impact shares:

ADTRAN (ADTN) Raised to Outperform at Baird.
Advanced Medical Optics (EYE) Started as Overweight at Thomas Weisel.
Constellation Energy (CEG) Cut to Hold at Citigroup.
Holly Corp. (HOC) Raised to Buy at Goldman Sachs.
Incyte Corp. (INCY) Started as Buy at Goldman Sachs.
Kohl’s (KSS) Cut to Hold at Citigroup.
PetroChina (PTR) Raised to Outperform at Credit Suisse.
Vornado Realty Trust (VNO) Cut to Market Perform at Wachovia.
Whole Foods (WFMI) Started as Underperform at FBR.

Jon C. Ogg
September 18, 2008