Stock Analysts’ ratings reiterations for Friday, July 26th:
AmerisourceBergen Corp. (NYSE:ABC) had its neutral rating reiterated by analysts at Zacks. The firm currently has a $60.00 target price on the stock. Zacks’ analyst wrote, “AmerisourceBergen Corporation’s third quarter fiscal 2013 earnings of $0.80 beat the Zacks Consensus Estimate of $0.74 and were up from $0.76 in the year-ago quarter. Revenues grew 13.3% to $21.9 billion in the third quarter of fiscal 2013 and surpassed the Zacks Consensus Estimate of $21.3 billion. However, AmerisourceBergen narrowed its earnings guidance for fiscal 2013. The company now expects earnings in the range of $3.06 – $3.11 in fiscal 2013, compared to the previous guidance of $3.04-$3.14. Nevertheless, AmerisourceBergen continues to expect revenues to grow in the range of 11% – 13%. Although we are positive on the Walgreens deal, which should significantly boost the top-line in the coming years, weakness in the oncology business due to challenging reimbursement rates continue to be a matter of concern. Hence, we maintain a Neutral recommendation on the stock.”
Amazon.com (NASDAQ:AMZN) had its outperform rating reaffirmed by analysts at RBC Capital. RBC Capital currently has a $330.00 price target on the stock.
Bombardier (TSE:BBD.B) had its outperform rating reiterated by analysts at RBC Capital. RBC Capital currently has a C$5.50 target price on the stock.
Barclays Capital (NYSE:BCS) had its hold rating reaffirmed by analysts at Canaccord Genuity.
Barclays Capital (NYSE:BCS) had its reduce rating reiterated by analysts at Numis Securities Ltd.
Brookfield Renewable (TSE:BEP.UN) had its neutral rating reiterated by analysts at Credit Suisse.
BG Group (LON:BG) had its overweight rating reaffirmed by analysts at Morgan Stanley.
Bemis Co. (NYSE:BMS) had its neutral rating reissued by analysts at Zacks. The firm currently has a $44.00 target price on the stock. Zacks’ analyst wrote, “Bemis Company’s second-quarter EPS increased 13% to $0.61, but net sales declined 1.2% year over year to $1.297 billion. Management expects adjusted EPS in the range of $0.57 to $0.63 for the third quarter of 2013 and between $2.30 and $2.40 for 2013. Weak volume, cautious consumer spending environment, sluggish European economic outlook and rising food costs remain major concerns. However, savings from the Bemis cost reduction program due to the closure of unproductive facilities will help offset these pressures. We maintain our Neutral recommendation with a target price of $44.00.”
Brookfield Properties (NYSE:BPO) had its sector outperform rating reaffirmed by analysts at Scotiabank.
Canfor Pulp Products (TSE:CFX) had its sector outperform rating reaffirmed by analysts at CIBC. CIBC currently has a C$24.00 target price on the stock.
Cirrus Logic (NASDAQ:CRUS) had its hold rating reissued by analysts at Canaccord Genuity. They currently have a $18.00 price target on the stock.
Cenovus Energy (NYSE:CVE) had its sector outperform rating reiterated by analysts at Scotiabank. Scotiabank currently has a $40.00 price target on the stock.
Daily Mail and General Trust plc (LON:DMGO) had its sell rating reiterated by analysts at Deutsche Bank.
Daily Mail and General Trust plc (LON:DMGO) had its neutral rating reiterated by analysts at BNP Paribas.
EnCana (TSE:ECA) had its sector perform rating reaffirmed by analysts at RBC Capital. RBC Capital currently has a C$22.00 target price on the stock.
EnCana (TSE:ECA) had its sector perform rating reissued by analysts at Scotiabank. The firm currently has a C$23.00 target price on the stock.
HSBC (NYSE:HBC) had its hold rating reissued by analysts at Numis Securities Ltd.
Kinross Gold (TSE:K) had its outperform rating reissued by analysts at RBC Capital.
Loblaw Companies (TSE:L) had its sector perform rating reissued by analysts at CIBC. They currently have a C$53.00 target price on the stock.
Macdonald Dettwiler (TSE:MDA) had its sector outperform rating reiterated by analysts at CIBC. The firm currently has a C$78.00 price target on the stock.
Mercer International (NASDAQ:MERC) had its sector underperform rating reiterated by analysts at CIBC. The firm currently has a $7.00 price target on the stock.
MULLEN GROUP LTD (NASDAQ:MLLGF) had its sector outperform rating reaffirmed by analysts at Scotiabank. The firm currently has a $24.00 target price on the stock.
Manitowoc (NYSE:MTW) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $20.00 price target on the stock. Zacks’ analyst wrote, “Manitowoc’s adjusted earnings were $0.09 per share in the first-quarter of 2013 and total sales increased 5% year over year to $898 million. Both fell short of the respective Zacks Consensus Estimates. Crane demand is expected to increase by a significant margin, aided by the new highway bill and a turnaround in the construction sector. Margins in both the Crane and Foodservice segments are expected to improve in fiscal 2013. However, slowdown in the Crane segment’s order rate, high debt levels and increased competition in the Chinese market will weigh on the near-term results. We maintain our Neutral recommendation on Manitowoc with a target price of $20.”
Owens-Illinois (NYSE:OI) had its neutral rating reiterated by analysts at Zacks. Zacks currently has a $30.00 target price on the stock. Zacks’ analyst wrote, “Owens-Illinois’ second-quarter 2013 adjusted earnings per share remained flat at $0.81 while net sales edged up 1% to $1.781 billion. Owens-Illinois will benefit from the restructuring actions undertaken in North American and Asia-Pacific regions, global structural cost reductions as well as its growth strategy in South America. However, since about 40% of its business is in Europe, the soft economic condition in the region may continue to impact Owens-Illinois. Owens-Illinois has embarked on a multi-year asset optimization program in Europe, which is expected to lead to improvements in profits in Europe in the second half of 2013. We reiterate our Neutral recommendation on Owens-Illinois with a target price of $30.”
Potash Corp (NYSE:POT) had its sector perform rating reissued by analysts at Scotiabank. They currently have a $42.00 target price on the stock.
Rogers Comm (TSE:RCI.B) had its sector perform rating reissued by analysts at CIBC. The firm currently has a C$53.00 price target on the stock.
Rogers Comm (TSE:RCI.B) had its sector perform rating reiterated by analysts at RBC Capital. RBC Capital currently has a C$43.00 target price on the stock.
Rogers Comm (TSE:RCI.B) had its sector outperform rating reiterated by analysts at Scotiabank. Scotiabank currently has a C$52.00 target price on the stock.
Rio Tinto (NYSE:RIO) had its outperform rating reissued by analysts at Credit Suisse.
Russel Metals (TSE:RUS) had its sector outperform rating reaffirmed by analysts at CIBC. CIBC currently has a C$31.00 price target on the stock.
Standard Chartered (NASDAQ:SCBFF) had its hold rating reiterated by analysts at Numis Securities Ltd. They currently have a $1,533.00 price target on the stock.
Silgan Holdings (NASDAQ:SLGN) had its neutral rating reaffirmed by analysts at Zacks. The firm currently has a $50.00 price target on the stock. Zacks’ analyst wrote, “Silgan Holdings’ second-quarter 2013 earnings increased 15% year over year to $0.63 per share, driven by solid operating performance by the metal and plastic container businesses. Total revenue increased 7% year over year to $880 million. Silgan Holdings will benefit from its successful acquisitions, increasing productivity and cost reduction initiatives, such as the newly started Can Vision 2020 and an industry-wide campaign through the Can Manufacturing Institute. However, soft demand in Europe, a high debt-to-capitalization ratio and lower volume expectation remain concerns. We reiterate our Neutral recommendation on Silgan Holdings with a target price of $50.00.”
Teck Resources Limited (NYSE:TCK) had its sector outperform rating reissued by analysts at Scotiabank. Scotiabank currently has a $28.00 price target on the stock.
Tahoe Resources (TSE:THO) had its outperform rating reaffirmed by analysts at RBC Capital. They currently have a C$24.00 target price on the stock.
Torchmark Corp. (NYSE:TMK) had its neutral rating reissued by analysts at Zacks. They currently have a $74.00 target price on the stock. Zacks’ analyst wrote, “Torchmark Corp.’s second quarter earnings came in ahead of the Zacks Consensus Estimate, helped by higher premium and net investment income. Torchmark has been generating favorable earnings over the past many quarters and the company is poised to generate favorable returns over the long term. Among the company’s distribution channels, American Income and Globe Life are performing well. Liberty National though had lower premiums, but posted better underwriting margins. We are optimistic on the company’s acquisition of Family Heritage Life, which is accretive to its earnings. A strong capital position and good capital management are the other positives. A low interest rate environment is, however, draining the earnings, and will remain a headwind in the near term. “
TUI Travel (LON:TT) had its equal weight rating reaffirmed by analysts at Morgan Stanley.
Titan International (NYSE:TWI) had its sell rating reissued by analysts at Zacks. Zacks currently has a $17.20 price target on the stock.
United Utilities Group (LON:UU) had its buy rating reissued by analysts at Deutsche Bank. They currently have a GBX 800 ($12.21) target price on the stock.
Wal-Mart Stores (NYSE:WMT) had its neutral rating reaffirmed by analysts at Zacks. Zacks currently has a $82.00 target price on the stock. Zacks’ analyst wrote, “Walmart’s earnings report showed that both earnings and revenues missed the Zacks Consensus Estimate in the first quarter fiscal 2014, due to weak consumer spending during the quarter, primarily caused by a payroll tax increase. However, Walmart’s first quarter earnings of $1.14 per share increased 4.6% driven by top-line growth coupled with productivity improvements. Total revenue climbed 1.0% to $114.2 billion and total e-commerce sales also grew more than 30%. Overall, we are impressed with the company’s initiatives to reduce operating expenses. In addition, the company has strong international presence and has been expanding its e-commerce business. However, rising gas prices, delayed income tax refunds and higher payroll taxes will continue to hurt consumer spending going ahead. Currency headwinds, continued economic pressure and the possibility of increased labor costs keep us on the sidelines.”