Philip Morris International (PM) upgraded at Nomura to neutral, Nomura said. $94.80 price target. Stock is factoring in the risk of slower growth in Asia.
Pioneer Natural (PDX) rated new outperform at Credit Suisse. $150 price target. Permian basin will likely drive growth.
Ruckus Wireless (RKUS) downgraded at Needham from Buy to Hold, Needham said. Valuation call, as the stock is up a quick 65% from its IPO price.
Sapient (SAPE) downgraded at William Blair from Outperform to Market Perform, William Blair said. Company offered disappointing organic growth guidance and margin upside appears limited.Sandridge (SD) rated new Neutral at Credit Suisse. $6.30 price target. Stock will likely remain range-bound this year. Seattle Genetics (SGEN) downgraded at Needham from Buy to Hold, Needham said. Adcetris sales are lagging expectations. UTi Worldwide (UTIW) upgraded at Jefferies to Buy from Hold, Jefferies said. $18 price target. Leverage to restocking with a restructuring kicker.
STOCK COMMENTS / EPS CHANGESAvon Products (AVP) numbers raised at BofA/Merrill. Shares of AVP now seen reaching $24, according to Bank of America/Merrill Lynch. Estimates also increased, as higher sales is driving margin growth. Buy rating. Comcast (CMCSA) target raised at Citigroup to 45.50, Citigroup said. NBCU deal a fair price and accretive. Buy rating. Cooper Companies (COO) numbers raised at Jefferies. Shares of COO now seen reaching $100, Jefferies said. Estimates also raised on shift in the CIBA royalty agreement. Hold rating. Hercules Offshore (HERO) numbers raised at Jefferies. Shares of HERO now seen reaching $8, Jefferies said. Estimates also raised on solid domestic jack-up rates. Hold rating. Level 3 Communications (LVLT) numbers cut at Canaccord. Shares of LVLT now seen reaching $16, according to Canaccord Genuity. Estimates also reduced, given macro headwinds. Hold rating. Rackspace (RAX) estimates, target cut at JMP. RAX estimates were reduced through 2014, JMP Securities said. Company is seeing lower sales. Outperform rating and new $78 price target. Royal Dutch Shell (RDS) target lowered at Oppenheimer to $80, Oppenheimer said. Weak unconventional results take down earnings. Outperform rating. >To submit a news tip, email: firstname.lastname@example.org.
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