Opnext (OPXT) started as Neutral at Goldman Sachs; stock up 10% since IPO and Goldman sees 9% more upside to the stock.
Earnings estimates INCREASED for Fifth Third Bancorp (FITB) and Kimberly-Clark Corp (KMB).
Earnings estimates DECREASE for State Street Corp. (STT), SunTrust Banks (STI), U.S.Bancorp (USB), Washington Mutual (WM), Western Alliance Bancorp (WAL), Bank of America (BAC), Ethan Allen (ETH), Agere Systems (AGR).
Goldman Sachs notes that Q1 banking earnings will show modest top line growth with flat to down net interest income based on the inverted yield curve.
Tiffany & Co (TIF) maintained Neutral.
Goldman Sachs adopts a buy and hold strategy in oils and gas companies with a 10%+ to 13% upside in the names, but says they prefer to buy on dips rather than chase rallies; says they could see 30%+ upside for the sector to current high-end trading values.
Hawaiian Holdings (HA), parent of Hawaiian Air, maintained neutral but Goldman says the investor update shows severe yield pressure and worse than expected; it is reviewing its estimates.
Jon C. Ogg
March 27, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.