Equity Brief: Ratings Changes for November 6th: JMBA, KMP, KRFT, LIFE, LNKD, LRCX, LSI, MDF, MDLZ
A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:
Canaccord Genuity reiterated its buy rating on shares of Jamba, Inc. (JMBA). They have a $3.00 price target on the stock.
Zacks reiterated its neutral rating on shares of Kinder Morgan Energy Partners LP (KMP). They have a $87.00 price target on the stock. Zacks' analyst wrote, "We are maintaining our Neutral recommendation for Kinder Morgan following the third quarter 2012 results. The partnership delivered positive performances across each of its business segments. But more importantly, management hiked its quarterly cash distribution rate by 9% year-over-year. We expect Kinder Morgan to seize attractive investment opportunities in the near term, particularly in the Eagle Ford and Haynesville shale plays. However, the partnership remains vulnerable to macro conditions, unstable oil & gas prices and interest rate fluctuations. Therefore, we see limited upside potential and are sticking with our prior recommendation."
Canaccord Genuity initiated coverage on shares of Kraft Foods (KRFT). They issued a buy rating on the stock.
Zacks reiterated its neutral rating on shares of Life Technologies Corporation (LIFE). They have a $51.00 price target on the stock. Zacks' analyst wrote, "Life's third quarter adjusted EPS of $0.92 surpassed the Zacks Consensus Estimate of $0.89 but missed the year-ago quarter's $0.94. Revenues increased 1.4% at CER to $911 million, ahead of the Zacks Consensus Estimate of $908 million. The Ion Torrent franchise recorded strong growth, based on portfolio expansion including the recent launch of Ion Proton system. However, economic uncertainties and unfavorable currency were the major headwinds for Life during the reported quarter. The company tightened its 2012 earnings outlook and expects organic revenue growth at 2%. The company, however, plans to offset a portion of the headwinds through lower discretionary spending and marginally lower tax rate. We are also impressed by the company's capital deployment policy. As a result, we maintain our Neutral' recommendation on the stock. "
Zacks reiterated its neutral rating on shares of Linkedin Co. (LNKD). They have a $112.00 price target on the stock. Zacks' analyst wrote, "The third quarter numbers were encouraging and revenues were considerably higher across segments. Also, earnings exceeded our expectation. LinkedIn commands a dominant position in the emerging online professional networking segment. The company has attained worldwide popularity and has grown steadily over the last few quarters. The Talent Solutions and Premium Subscription segments were particularly strong. Cost-control measures were implemented effectively to improve its bottom line. LinkedIn's current competitive pressure is not severe in the professional networking space. However, competition is picking up as companies such as Facebook, Google and Microsoft are expected to enter the market soon. Hence, the competitive scenario could change rapidly over the next few years. "
Susquehanna upgraded shares of Lam Research Co. (LRCX) from a neutral rating to a positive rating. Susquehanna now has a $48.00 price target on the stock, up previously from $32.00.
Zacks reiterated its neutral rating on shares of LSI Co. (LSI). They have a $7.00 price target on the stock. Zacks' analyst wrote, "We believe that LSI Corp is well positioned to grow its market share based on its new product cycles that will enable it to outgrow its storage and networking markets. Over the last two years, LSI Corp. has invested heavily on a number of product lines, some of which have started contributing to the top line. LSI Corp. recently reported in line results in the third quarter but provided soft guidance for the fourth quarter leading to a decline in earnings estimates. Demand continues to be weak due to the economic uncertainty. Consequently, LSI Corp. expects to witness lower demand for components in the fourth quarter, resulting from the ongoing softness in the PC end market. Both custom and standard products along with flash storage processors are estimated to decline. Hence, we maintain a Neutral recommendation."
Sidoti downgraded shares of Metropolitan Health Networks, Inc. (MDF) from a buy rating to a neutral rating.
Feltl & Co. downgraded shares of Metropolitan Health Networks, Inc. (MDF) from a buy rating to a hold rating. They wrote, "Metropolitan Health Networks announced this morning it entered into a definitive merger agreement with Humana (HUM - not rated) to be acquired for $850 million or $11.25 per share. The companies expect this acquisition to close by the end of the first quarter in 2013. . We are increasing our price target to the acquisition price of $11.25 and lowering our rating to HOLD from STRONG BUY. Given we do not believe it is likely for any competing bids to surface we encourage investors to use MDF as a source of funds if other investments provide attractive opportunities."
Northland Securities raised its price target on shares of Medifast, Inc. (MED) from $29.00 to $34.00. They have an outperform rating on the stock.
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