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Sunday, May 27, 2012 - 8:37am
Earnings Expectations for the Week of May 28 (JOY, SAI, TIVO)
Mining equipment maker Joy Global (NYSE: JOY) and defense contractor SAIC (NYSE: SAI) are scheduled to step into the earnings spotlight this week, in what will be otherwise a pretty quiet week as far as quarterly reports go. Others on tap to share their results for the most recent quarter include...
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UPDATE: Wunderlich Securities Initiates Buy, $32 PT on United Stationers on Valuation
Friday, May 25, 2012 - 10:31amWunderlich Securities initiates a Buy rating with a price target of $32 per share on United Stationers (NASDAQ: USTR). Wunderlich Securities says, "We believe YTD share price underperformance represents an attractive opportunity, as delays in a cyclical recovery have evaded the office products...
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UPDATE: Wunderlich Securities Initiates Buy, $74 PT on Anixter International on Attractive Valuation
Friday, May 25, 2012 - 10:30amWunderlich Securities initiates its coverage on Anixter International (NYSE: AXE) with a Buy rating and a price target of $74. Wunderlich Securities comments, "We view Anixter's three businesses as having attractive characteristics involving either strong leadership positions in long-term secular...
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UPDATE: Wunderlich Securities Initiates Hold, PT of $64 on WESCO International; 2H12 Slowdown on Macro
Friday, May 25, 2012 - 10:12amWunderlich Securities initiates its coverage on WESCO International (NYSE: WCC) with Hold rating and a price target of $64 per share. Wunderlich Securities notes, "Our Hold rating is driven by a below-consensus 2012 EPS view largely resulting from revenue growth 80-90 bps slower than Street...
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UPDATE: Wunderlich Securities Initiates Buy, $51 PT on Fastenal Company on Initiatives Offsetting Slowdown in Economy
Friday, May 25, 2012 - 10:11amWunderlich Securities initiates its coverage on Fastenal Company (NASDAQ: FAST) with a Buy rating and a price target of $51. Wunderlich Securities notes, "While Fastenal currently trades at a substantial premium to peers, we view current levels as in line with historical precedent. We believe...
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Frontline up 6% Pre-Market on Strong Q1 Earnings
Friday, May 25, 2012 - 9:22amFrontline (NYSE: FRO) is trading higher pre-market following its Q1 earnings announcement. The company reported an EPS of $0.09 vs $(0.10) estimates and revenues of $167.3 million vs $100 million estimates. The company's said it sees "a challenging supply / demand situation for the tanker market...
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UPDATE: Jefferies Reduces PT to $6 on Leap Wireless International; Increased Pre-Paid Competition
Friday, May 25, 2012 - 9:20amJefferies reiterates its Hold rating on Leap Wireless International (NASDAQ: LEAP) and reduces its price target from $10 to $6. Jefferies comments, "As the post-paid market slows, we believe the Big-Four carriers are increasingly focusing on the pre-paid market to drive growth. Additionally, ARPU...
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UPDATE: Jefferies Reduces PT to $133 on Flowserve Corporation on Euro Weakness
Friday, May 25, 2012 - 9:17amJefferies reiterates its Buy rating on Flowserve Corporation (NYSE: FLS) but reduces its price target from $135 to $133. Jefferies notes, "We hosted investor meetings with the CFO. End-market activity is improving. Combined with new operating strategies, we expect continued sales momentum and...
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UPDATE: Jefferies Increases PT to $34 on Patterson Companies on Momentum Gains
Friday, May 25, 2012 - 9:16amJefferies raises its price target on Patterson companies (NASDAQ: PDCO) from $31 to $34 and reiterates a Hold rating on shares. Jefferies says, "PDCO's fiscal-4Q12 (Apr) EPS of $0.58 was $0.02 above consensus as stronger revenue growth & a lower tax rate more than offset a weaker than...
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UPDATE: Jefferies Downgrades HJ Heinz Company to Hold; Waiting for North American Recovery
Friday, May 25, 2012 - 9:15amJefferies reduces its price target on HJ Heinz Company (NYSE: HNZ) from $60 to $56 and reiterates a Hold rating on shares. Jefferies comments, "We are downgrading HNZ to Hold and are lowering out PT to $56. While the international businesses seem to do well, the North American Consumer Products...
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