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5 Stocks With Upgrades: DVN, HTLD, LRCX, XEC, CFN

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Cimarex Energy

The oil and gas exploration company reported Wednesday fourth-quarter earnings of $116.9 million, or $1.36 a share, slightly down from year-ago earnings of $117.6 million, or $1.37.

"We reiterate our Perform rating on the shares due to XEC's below-average production growth rate, estimated at 4-10% in 2012, and an oil/gas production mix that continues to be highly levered to gas. XEC does not have any gas hedges in 2012 or 2013, leaving it fully exposed to the current low gas price environment," Oppenheimer analysts wrote in a report Thursday.

Shares of Cimarex Energy were upgraded to buy from hold by TheStreet Ratings.

Cimarex has a forward P/E of 11.61; the average for exploration and production companies is 20.04. For comparison, Southwestern Energy (SWN) and Concho Resources (CXO) both have higher forward P/Es of 21.47 and 21.87, respectively.

Thirteen of the 21 analysts who cover Cimarex rated it a buy; eight rated it a hold.

Cimarex gets a B- grade from TheStreet Ratings with a $94.24 price target. The stock closed Thursday at $80.96 and has increased 30.79% year to date.


The medical technology company earlier this month reported second-quarter earnings of $95 million, or 42 cents a share, up from year-ago earnings of $76 million, or 34 cents.

"We estimate that in order to meet management's goal of 20%-plus operating margin exiting fiscal 2014, the company needs to reduce expenses by 3% from the fiscal 2011 base," Morgan Keegan analysts wrote in a report Friday. "Given the sheer number of cost reduction initiatives that are ongoing, we believe that management can meets its goals."

Shares of CareFusion were upgraded to buy from hold by TheStreet Ratings.

CareFusion has a forward P/E of 12.89; the average for medical equipment companies is 32.59. For comparison, Abiomed (ABMD) has a forward P/E of 121.79.

Of the 16 analysts who cover CareFusion, nine rated it a buy and seven rated it a hold.

TheStreet Ratings gives CareFusion a B grade with a $29.29 price target. The stock closed Thursday at $25.86 and has increased 1.77% year to date.

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-- Written by Alexandra Zendrian

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CFN $0.00 0.00%
DVN $34.68 0.00%
HTLD $18.11 0.00%
LRCX $76.40 0.00%
XEC $108.88 0.00%


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