Dean Foods Company (NYSE: DF), the largest milk processor in the United States, traded up Wednesday after reporting second-quarter results on Tuesday. The company also announced that one of its subsidiaries registered for an initial public offering.
Dean Foods reported strong second-quarter earnings despite a surge in the price of milk in July.
As the S&P 500 Index traded approximately 0.1 percent higher Wednesday, the following three stocks saw significant price increases.
Dean Foods Company (NYSE: DF): Dean Foods traded up after the company reported strong second-quarter earnings on Tuesday.
Bank of America maintained a Buy rating on XL Group (NYSE: XL) and increases its price target from $26 to $28.
Bank of America wrote, “We are raising our 2012 EPS estimate by $0.30 to $2.30 per share with $0.22 coming from the 2Q beat and the balance mostly coming from an improved outlook for the insurance segment loss ratio.
Piper Jaffray reiterated an Overweight rating on Jazz Pharmaceuticals (NASDAQ: JAZZ) and raised its price target from $64 to $68.
Piper Jaffray noted, “Jazz reported 2Q12 non-GAAP diluted EPS of $1.09, beating the Street estimate of $1.05. Xyrem sales totaled $89M, with yet another quarter of double-digit annual volume growth.
Canaccord reiterated a Buy rating on Alphatec Holdings (NASDAQ: ATEC) and lowered its price target from $3.50 to $3.00.
Canaccord commented, “We maintain our BUY rating on Alphatec despite another quarter of sluggish US results. We expect 2012 to be a transitional year due to management team changes and operational improvement initiatives.
Cantor Fitzgerald downgraded Echelon Corp. (NASDAQ: ELON) form a Buy to a Hold rating and lowered its price target from $5.00 to $3.50.
Cantor Fitzgerald wrote, “Echelon reported a good 2Q:12 with results above consensus. However, large production programs with Duke (NYSE: DUK, NC) and Telvent (France: SU, NC) will begin to wind down in 3Q:12.
Piper Jaffray reiterated an Overweight rating on Rackspace Hosting (NYSE: RAX) and increased its price target from $59 to $62.
Piper Jaffray wrote,“ Rackspace reported strong second quarter results, beating Street estimates and showing robust growth.
Goldman Sachs reiterated a Neutral rating on Vitamin Shoppe (NYSE: VSI) and increased its price target from $56 to $64.
Goldman Sachs wrote, “VSI's 2Q results were marked by improved SSS momentum relative to sector data and peers; nice acceleration in e-commerce sales; and, ongoing operating leverage.
Barclays reiterated an Equal Weight rating on Renren (NYSE: RENN) and lowered its price target from $5.80 to $5.50.
Barclays commented, “We maintain our Equal Weight rating as we adjust our 12-month price target to US$5.50 based on revisions to our estimates and our DCF valuation analysis.