This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup, Qualcomm: Stocks to Watch

Texas Instruments (TXN - Get Report):

The chip maker was downgraded to underperform from market perform at FBR Capital Markets as part of a larger call on the semiconductor makers ahead of second-quarter reporting season. The firm, which also dropped its 12-month price target to $24.50 from $30, said it sees "more downside risks" for Texas Instruments than other chip stocks "trading near trough valuations."

"TI's 3Q12 revenue guidance could be worse than the Street (like many peers) and with risk to the Street's 2013 estimates," FBR said. "Further, we are concerned about challenges in TI's wireless business, gross margin impacts from its 1Q12 die bank inventory build-ahead, and whether TI has too much capacity following its National acquisition. Valuation seems elevated compared to most peers."

The firm also lowered price targets and earnings estimates on Atmel (ATML), Linear Technology (LLTC), Maxim Integrated Products (MXIM), Nvidia (NVDA) and ON Semiconductor (ONNN).

Shares of Texas Instruments closed Friday at $27.02, down 8% so far in 2012.

Panera Bread (PNRA - Get Report):

Panera Bread should be in focus Monday after Piper Jaffray lowered its rating on shares of the bakery-cafe operator to underweight from overweight, citing turnover in the management team.

"Based on our 'human capital trumps financial capital' thesis we recognize a high degree of execution risks until executive positions are filled," the firm wrote. "We recognize this thesis may be construed at the very best as 'contrarian' given the company retains a strong balance sheet (ie $200+ million cash), positive same-store sales trends and a healthy level of unit growth. In the short-term we do very strongly believe our FY12 estimates remain achievable."

Piper left its estimates for the second quarter and the whole of fiscal 2012 intact but lowered its earnings view for fiscal 2013 to $6.43 a share from $6.62 a share.

"Looking forward however, we have reduced confidence (which resulted in our lowered projections) based on a lack of relative upside to mix shift, pending assessment of comp volatility based on National TV advertising and again...overall strategic and tactical execution risks," said the firm, which dropped its 12-month price target to $129 from $165.

Panera shares closed Friday at $147.31, up 1.5% so far in 2012.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
C $45.27 -3.00%
PNRA $213.15 -0.67%
QCOM $50.47 -1.30%
TXN $57.35 -0.86%
AAPL $94.02 0.41%


Chart of I:DJI
DOW 17,721.49 -169.67 -0.95%
S&P 500 2,057.74 -23.69 -1.14%
NASDAQ 4,755.5320 -62.0620 -1.29%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs