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TSC Ratings' Updates: Celgene

We've initiated coverage of Shinhan Financial Group (SHG - Get Report), which offers various financial products and services to corporations, governments, institutions and individuals, at sell. This rating is driven by the generally disappointing historical performance in the stock itself.

Net income decreased by 12.7% since the year-ago quarter, from $184.9 million to $161.3 million. ROE slightly decreased, implying a minor weakness in the organization. EPS improved by 15.5% year over year, and though the company has reported volatile earnings recently, we feel it is poised for EPS growth in the coming year.

Shares are down 71.2% over the past year, underperforming the S&P 500. Naturally, the overall market trend is bound to be a significant factor, and in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.

Other ratings changes included Forest Oil (FST), downgraded from hold to sell; FBL Financial Group (FFG - Get Report), downgraded from hold to sell; and Cephalon (CEPH), downgraded from buy to hold.

All ratings changes generated on Feb. 24 are listed below.

Ticker
Company
Current
Change
Previous
ADG
Allied Defense Group
HOLD
Upgrade
SELL
ADPT
Adaptec
SELL
Downgrade
HOLD
AHC
A. H. Belo
SELL
Initiated
AVSO
Avatech Solutions
SELL
Downgrade
HOLD
CELG
Celgene
SELL
Downgrade
HOLD
CEPH
Cephalon
HOLD
Downgrade
BUY
DDR
Developers Diversified Realty
SELL
Downgrade
HOLD
EBSB
Meridian Interstate Bancorp
SELL
Initiated
FFG
FBL Financial Group
SELL
Downgrade
HOLD
FMER
FirstMerit
HOLD
Downgrade
BUY
FST
Forest Oil
SELL
Downgrade
HOLD
HOTT
Hot Topic
BUY
Upgrade
HOLD
HS
HealthSpring
HOLD
Downgrade
BUY
LQDT
Liquidity Services
HOLD
Upgrade
SELL
PNFP
Pinnacle Financial Partners
HOLD
Downgrade
BUY
SDTH
Shengdatech
SELL
Downgrade
HOLD
SHG
Shinhan Financial Group
SELL
Initiated
VIV
Vivo Participacoes
HOLD
Upgrade
SELL
WEYS
Weyco Group
HOLD
Downgrade
BUY

Each business day, TheStreet.com Ratings updates its ratings on the stocks it covers. The proprietary ratings model projects a stock's total return potential over a 12-month period, including both price appreciation and dividends. Buy, hold or sell ratings designate how the Ratings group expects these stocks to perform against a general benchmark of the equities market and interest rates.

While the ratings model is quantitative, it uses both subjective and objective elements. For instance, subjective elements include expected equities market returns, future interest rates, implied industry outlook and company earnings forecasts. Objective elements include volatility of past operating revenue, financial strength and company cash flows.

However, the rating does not incorporate all of the factors that can alter a stock's performance. For example, it doesn't always factor in recent corporate or industry events that could affect the stock price, nor does it include recent technology developments and competitive dynamics that may affect the company.

For those reasons, we believe a rating alone cannot tell the whole story, and that it should be part of an investor's overall research.
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SYM TRADE IT LAST %CHG
CELG $117.66 1.90%
FST $0.20 -4.76%
FFG $56.78 1.10%
ADPT $97.92 -0.11%
SHG $33.17 0.88%

Markets

Chart of I:DJI
DOW 16,267.50 +209.15 1.30%
S&P 500 1,933.58 +19.73 1.03%
NASDAQ 4,698.3230 +62.2180 1.34%

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