6 Stocks Hit 52-Week Highs: PFE, LMT, VAL, BIIB, MSG, BYI

NEW YORK ( TheStreet) -- Shares of the following stocks hit 52-week highs on Wednesday: Pfizer ( PFE), Lockheed Martin ( LMT), Valspar ( VAL), Biogen Idec ( BIIB), Madison Square Garden ( MSG) and Bally Technologies ( BYI).

Pfizer

The drug company announced on Monday that Nestle is buying its infant nutrition division for $11.85 billion.

Shares of Pfizer hit a 52-week high Wednesday of $22.98. The stock's 52-week low of $16.63 was set on Aug 9.

Pfizer trades at an estimated price-to-earnings ratio for next year of 9.73 times; the average for pharmaceutical companies is 21.49. For comparison, Merck ( MRK) has a higher forward P/E of 10.32.

Twenty-one of the 28 analysts who cover Pfizer rated it buy. Five analysts gave the stock a hold rating and two rated it sell.

TheStreet Ratings gives Pfizer an A- grade with a buy rating and $27.96 price target. The stock has risen 5.82% year to date.

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Lockheed Martin

The defense company is scheduled to report its first-quarter results on Thursday. Analysts, on average, anticipate earnings of $1.70 a share on revenue of $10.56 billion.

"Large backlogs will support expectations; however, we are below consensus of $1.70 at $1.65 due to our conservative outlook for Aeronautics and Information Systems -- which is likely too low on the margin performance," Sterne Agee analysts wrote in an April 18 report. "We expect both the JSF and budget scenarios to dominate the conference call, along with the outlook for cash flows and shareholding-enhancing activities (dividend increases and buybacks). LMT has the highest yield among defense primes at 4.4%; this continues to support the stock in the near term."

Shares of Lockheed Martin hit a 52-week Wednesday of $91.89. The stock's 52-week low of $66.36 was set on Aug. 11.

Lockheed Martin's forward P/E is 10.75; the average for defense companies is 11.61. For comparison, General Dynamics ( GD) has a lower forward P/E of 8.78.

Seventeen of the 24 analysts who cover Lockheed Martin rated it hold. Five analysts gave the stock a buy rating and two rated it sell.

TheStreet Ratings gives Lockheed Martin a B grade with a buy rating and $104.34 price target. The stock has risen 12.19% year to date.


Valspar

"In a challenging demand environment, Valspar Corporation (VAL-NYSE) managed to produce strong results in its fiscal 1Q12 with EPS of $0.62 vs. $0.39 a year ago," KeyBanc Capital Markets analysts wrote in a Feb. 17 report. "Moving forward, we do expect some businesses to remain less than robust in terms of volume, specifically the U.S. DIY market, the Australian architectural market, and packaging coatings in Europe and North America. However, the Company should keep on benefiting from new business wins, strength in its coil, general industrial and powder coatings businesses and growth in the Asian and South American markets. We also expect total profitability to improve further moving into the seasonally stronger fiscal 2Q12 and 3Q12 due to the operating leverage, pricing actions and benefits from restructuring despite raw materials beginning to move upward once again."

Shares of Valspar hit a 52-week high Wednesday of $51.15. The stock's 52-week low of $27.44 was set on Aug. 8.

Valspar's forward P/E is 14.34; the average for building materials and fixtures companies is 25.91. For comparison, Masco ( MAS) has a higher forward P/E of 20.06.

Eight of the 13 analysts who cover Valspar rated it hold; five analysts gave the stock a buy rating.

TheStreet Ratings gives Valspar a B+ grade with a buy rating and $62.68 price target. The stock has risen 31.1% year to date.

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Biogen Idec

"At the CONFIRM ph.III data presentation, the lead investigator specifically noted that while there have been some malignancies observed in the 1,700 patients followed in the long-term ph.III extension phase, there does not appear to be any increase in the risk of cancer vs. what would be expected in this patient population," Wells Fargo analysts wrote in a report Wednesday. "We believe this should substantially reduceany lingering concerns about the theoretical risk of malignancy with BG-12, andremoves one of the overhangs on the program as BIIB moves through the FDAand EMA review processes."

Shares of Biogen Idec hit a 52-week high of $130.81 on Wednesday. The stock's 52-week low of $83.83 was set on Aug. 9.

Biogen Idec has a forward P/E of 18.45; the average for biotechnology companies is 29.93. For comparison, Amgen ( AMGN) has a lower forward P/E of 10.24.

Twenty-one of the 30 analysts who cover Biogen Idec rated it buy; nine analysts gave the stock a hold rating.

TheStreet Ratings gives Biogen Idec an A grade with a buy rating and $165.31 price target. The stock has risen 17.72% year to date.


Madison Square Garden

"We remain constructive but Neutral on MSG shares, as positive catalyst potential over the NT appears limited to the Knicks and Rangers' ability to advance to second round playoffs followed by a fairly quiet summertime closure of The Garden, thus limiting 2012E upside," Bank of America Merrill Lynch analysts wrote in an April 2 report.

Shares of Madison Square Garden hit a 52-week high Wednesday of $35.49. The stock's 52-week low of $21.12 was set on Oct. 4.

Madison Square Garden's forward P/E is 26.56; the average for recreation services companies is 15.59. For comparison, International Speedway ( ISCA) has a lower forward P/E of 14.28.

Analysts were split on Madison Square Garden with five giving it a buy rating, another five rating it hold and one analyst giving Madison Square Garden a sell rating.

TheStreet Ratings gives Madison Square Garden a C grade and hold rating. The stock has risen 24.04% year to date.

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Bally Technologies

The gaming company is scheduled to report third-quarter results on Thursday. On average, analysts anticipate earnings of 66 cents a share on revenue of $223.56 million.

"BYI is deliberating whether the Ohio regulator's permission to ship units thisquarter is sufficient for revenue recognition of these units," Wells Fargo analysts wrote in an April 17 report. "We remain Market Perform rated as our fiscal year 2013 earnings per share estimate is 7% below consensus on a very sensitive model (50 unit sales = $0.01 EPS)."

Shares of Bally Technologies hit a 52-week high on Wednesday of $48.50. The stock's 52-week low of $24.74 was set on Oct. 4.

Bally Technologies has a forward P/E of 15.7; the average for gambling companies is 14.45. For comparison, Penn National Gaming ( PENN) has a 15.78 forward P/E.

Twelve of the 17 analysts who cover Bally Technologies rated it buy; five analysts gave the stock a hold rating.

TheStreet Ratings gives Bally Technologies a B- grade with a buy rating and $53.92 price target. The stock has risen 20.5% year to date.

-- Written by Alexandra Zendrian

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