Medivation (MDVN) was initiated with a buy rating at Needham. Xtandi is rapidly gaining market share for the treatment of prostate cancer, Needham said.
Merck (MRK) was upgraded to buy at Bank of America/Merrill Lynch. Low expectations, a cheap valuation and dividend yield make this stock attractive, BofA/Merrill said. Estimates through 2015 were increased, price target is $47.
Micron (MU) was downgraded at Lazard Capital Markets to neutral. With DRAM strength set to taper off, consensus estimates are too bullish and the stock is expensive, Lazard Capital Markets said.
Radian Group (RDN) was upgraded at Keefe, Bruyette & Woods to outperform following Radian's capital raise. Estimates for 2014 and 2015 were introduced showing the company returning to sustained operating profitability, KBW said. New price target is $12.Charles Schwab (SCHW) was upgraded at Bernstein to outperform. The company will benefit from rising interest rates and a late cycle rebound in retail activity, Bernstein said. 2013 estimates were increased and the new price target is $23.
STOCK COMMENTS/EPS CHANGESBank of New York Mellon (BK) numbers were increased at Jefferies. Shares are now seen reaching $29. Estimates also increased, given higher equity returns, Jefferies said. Hold rating. Myriad Genetics (MYGN) numbers were cut at Credit Suisse. Shares are now seen reaching $28. Estimates were also reduced, given lower Medicare reimbursement rates, Credit Suisse said. Neutral rating. Northern Trust (NTRS) numbers were increased at Jefferies through 2014. Company is leveraged to higher equity prices and currency trading, Jefferies said. Hold rating. The Fresh Market estimates (TFM) estimates, target were reduced at UBS. Estimates for the fourth quarter and through 2014 were cut, based on commentary from other high-end food retailers and upcoming tough comparisons, UBS said. Maintain Buy rating, new $60 price target. >To submit a news tip, email: firstname.lastname@example.org.
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