Equity Brief: Ratings Changes for November 20th: PEBO, PENN, PNR, RCL, RIMM, RVBD, SBNY, SCG, SIRO
Raymond James upgraded shares of Peoples Bancorp Inc. (NASDAQ: PEBO) from a market perform rating to an outperform rating. Raymond James now has a $21.00 price target on the stock.
Goldman Sachs upgraded shares of Penn National Gaming (NASDAQ: PENN) from a sell rating to a neutral rating. Goldman Sachs now has a $49.00 price target on the stock.
Robert W. Baird upgraded shares of Pentair, Inc. (NYSE: PNR) from a neutral rating to an outperform rating. Robert W. Baird now has a $60.00 price target on the stock, up previously from $52.00.
Natixis initiated coverage on shares of Royal Caribbean Cruises Ltd. (NYSE: RCL). They issued a buy rating on the stock.
Jefferies Group upgraded shares of Research In Motion (NASDAQ: RIMM) from an underperform rating to a hold rating. Jefferies Group now has a $10.00 price target on the stock, up previously from $5.00.
Northland Securities upgraded shares of Riverbed Technology, Inc. (RVBD) from a market perform rating to an outperform rating. Northland Securities now has a $23.00 price target on the stock.
Credit Suisse initiated coverage on shares of Signature Bank (SBNY). They issued an outperform rating on the stock and set a $82.00 price target.
Zacks reiterated its neutral rating on shares of Scana Corporation (SCG). They have a $48.00 price target on the stock. Zacks' analyst wrote, "We are maintaining our Neutral recommendation on SCANA shares, following its third quarter 2012 results. The company reported better-than-expected earnings on the back of significantly higher electric margins, slightly higher gas margins, lower operating and maintenance expenses, and other items. The positives were somewhat tempered by higher interest expense, depreciation expense and share dilution. Going forward, SCANA will likely benefit from the new electric generation plants within its service territory and nuclear expansion projects. However, we remain on the sidelines considering the company's sensitivity to changes in coal, gas, oil and other commodity prices. Construction costs and delays could affect the timing of rate base growth, earnings, cash flow and the quality of the balance sheet. Considering this, we expect the stock to perform at par with the broader industry. "
Jefferies Group raised its price target on shares of Sirona Dental (SIRO) from $57.00 to $71.00. They have a buy rating on the stock. They wrote, "The reality that SIRO sells discretionary capital equipment & bears >30% direct exposure to Europe clearly wasn't evident in its 4Q12 core revenue growth (+23% vs. our +8%) and initial FY13 outlook, which trumped already bullish expectations. We are raising our FY13 and FY14 EPS forecasts to $3.40 (from $3.25) and $3.70 (from $3.40), respectively. Our PT moves to $71 (from $57) on higher cash flow forecasts."
Citigroup upgraded shares of SVB Financial Group (SIVB) from a neutral rating to a buy rating. Citigroup now has a $63.00 price target on the stock, up previously from $62.00.
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Source: Equity Brief via Thomson Reuters ONE