Petrobras Brasileiro (NYSE:PBR), Jefferies Group (NYSE:JEF), CNinsure (NASDAQ:CISG), ARM Holdings (NASDAQ:ARMH), ArthroCare (NASDAQ:ARTC) and Leap Wireless (NASDAQ:LEAP) had ratings and price targets on them adjusted by analysts.
Raymond James (NYSE:RJF) initiated coverage on Jefferies Group (JEF). They placed a "Market Perform" rating on the company.
Oppenheimer (NYSE:OPY) initiated coverage on CNinsure (CISG). They placed a "Perform" rating on the company.
ARM Holdings (ARMH) was upgraded by Natixis from a "Reduce" rating to a "Neutral" rating.
Petrobras Brasileiro (PBR) was downgraded by Barclays (NYSE:BCS) from an "Overweight" rating to an "Equal Weight" rating.
ArthroCare (ARTC) was downgraded by Jefferies from a "Buy" rating to a "Hold" rating.
Leap Wireless (LEAP) was downgraded by Collins Stewart from a "Buy" rating to a "Neutral rating. They slashed their price target on the company from $18.00 to $12.00.
Showing posts with label Jefferies Group. Show all posts
Showing posts with label Jefferies Group. Show all posts
Friday, February 17, 2012
Friday, December 30, 2011
Verizon (VZ) (IEX) (EK) (FISV) (LECO) Ratings Reiterated
Verizon (NYSE: VZ), IDEX Corp. (NYSE: IEX), Eastman Kodak Company (NYSE: EK), Fiserv, Inc. (NASDAQ: FISV) and Lincoln Electric Holdings Inc. (NASDAQ: LECO) had ratings on the reiterated by analysts.
Jefferies Group (NYSE:JEF) reiterated its "Buy" rating on Verizon (VZ).
Jefferies Group reiterated its "Buy" rating on IDEX Corp. (IEX).
Zacks Investment Research reiterated its "Neutral" rating on Eastman Kodak Company (EK). They have a price target of $0.75 on the company.
Zacks Investment Research reiterated its "Neutral" rating on Fiserv, Inc. (FISV). They have a price target of $61.00 on the company.
Zacks Investment Research reiterated its "Outperform" rating on Lincoln Electric Holdings Inc. (LECO). They have a price target of $46.00 on the company.
Jefferies Group (NYSE:JEF) reiterated its "Buy" rating on Verizon (VZ).
Jefferies Group reiterated its "Buy" rating on IDEX Corp. (IEX).
Zacks Investment Research reiterated its "Neutral" rating on Eastman Kodak Company (EK). They have a price target of $0.75 on the company.
Zacks Investment Research reiterated its "Neutral" rating on Fiserv, Inc. (FISV). They have a price target of $61.00 on the company.
Zacks Investment Research reiterated its "Outperform" rating on Lincoln Electric Holdings Inc. (LECO). They have a price target of $46.00 on the company.
Emergent (EBS) (IEX) (BKD) (GTLS) (FLWS) (HPY) Ratings, Price Targets
Emergent BioSolutions Inc. (NYSE: EBS), IDEX Corp. (NYSE: IEX), Brookdale Senior Living, Inc. (NYSE: BKD), Chart Industries (NASDAQ: GTLS), 1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS) and Heartland Payment Systems Inc. (NYSE: HPY) ratings and price targets.
Caris & Co. initiated coverage on Emergent BioSolutions Inc. (EBS). They placed a “Buy” rating on the company.
IDEX Corp. (IEX) had its “Buy” rating reiterated by Jefferies Group (NYSE:JEF).
JMP Securities initiated coverage on Brookdale Senior Living, Inc. (BKD). They placed an “Outperform” rating on the company.
Chart Industries (GTLS) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
1-800-FLOWERS.COM, Inc. (FLWS) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Heartland Payment Systems Inc. (HPY) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Caris & Co. initiated coverage on Emergent BioSolutions Inc. (EBS). They placed a “Buy” rating on the company.
IDEX Corp. (IEX) had its “Buy” rating reiterated by Jefferies Group (NYSE:JEF).
JMP Securities initiated coverage on Brookdale Senior Living, Inc. (BKD). They placed an “Outperform” rating on the company.
Chart Industries (GTLS) was upgraded by Zacks Investment Research from a “Neutral” rating to an “Outperform” rating.
1-800-FLOWERS.COM, Inc. (FLWS) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Heartland Payment Systems Inc. (HPY) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Fossil (FOSL) (CHK) (MLNX) (INAP) (CYN) (CYTK) Ratings, Price Targets
Fossil (FOSL), Chesapeake Energy (CHK), Mellanox Technologies, Ltd. (MLNX), InterNAP (INAP), City National Co. (CYN) and Cytokinetics, Inc. (CYTK) ratings and price targets.
Fossil (FOSL) had its price target lowered by FBR Capital from $100.00 to $90.00. They have a “Market Perform” rating on the company.
Chesapeake Energy (CHK) had its “Buy” rating reiterated by Jefferies Group (NYSE:JEF).
Wunderlich Securities initiated coverage on Mellanox Technologies, Ltd. (MLNX). They placed a “Hold” rating and a price target of $36.00 on the company.
InterNAP (INAP) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
City National Co. (CYN) was downgraded by Miller Tabak from a “Buy” rating to a “Hold” rating.
Cytokinetics, Inc. (CYTK) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Fossil (FOSL) had its price target lowered by FBR Capital from $100.00 to $90.00. They have a “Market Perform” rating on the company.
Chesapeake Energy (CHK) had its “Buy” rating reiterated by Jefferies Group (NYSE:JEF).
Wunderlich Securities initiated coverage on Mellanox Technologies, Ltd. (MLNX). They placed a “Hold” rating and a price target of $36.00 on the company.
InterNAP (INAP) was upgraded by Zacks Investment Research from an “Underperform” rating to a “Neutral” rating.
City National Co. (CYN) was downgraded by Miller Tabak from a “Buy” rating to a “Hold” rating.
Cytokinetics, Inc. (CYTK) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Thursday, December 22, 2011
GFI (GFIG) (GOL) (HNT) (IPSU) (JEF) Downgraded
GFI Group Inc. (NASDAQ: GFIG), Gol Linhas Aereas Inteligentes SA (NYSE: GOL), Health Net Inc. (NYSE: HNT), Imperial Sugar Co. (NASDAQ: IPSU) and Jefferies Group, Inc. (NYSE: JEF) were downgraded by analysts.
GFI Group Inc. (GFIG) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Gol Linhas Aereas Inteligentes SA (GOL) was downgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “Market Perform” rating.
Health Net Inc. (HNT) was downgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Sell” rating.
Imperial Sugar Co. (IPSU) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Jefferies Group, Inc. (JEF) was downgraded by Keefe, Bruyette & Woods to a “Narket Perform” rating.
GFI Group Inc. (GFIG) was downgraded by Zacks Investment Research from an “Outperform” rating to a “Neutral” rating.
Gol Linhas Aereas Inteligentes SA (GOL) was downgraded by Raymond James (NYSE:RJF) from an “Outperform” rating to a “Market Perform” rating.
Health Net Inc. (HNT) was downgraded by Deutsche Bank (NYSE:DB) from a “Hold” rating to a “Sell” rating.
Imperial Sugar Co. (IPSU) was downgraded by Zacks Investment Research from a “Neutral” rating to an “Underperform” rating.
Jefferies Group, Inc. (JEF) was downgraded by Keefe, Bruyette & Woods to a “Narket Perform” rating.
Thursday, September 1, 2011
Berry (BRY) (PATH) (JEF) (TM) (HMC) Downgraded
Berry Petroleum (NYSE:BRY), NuPathe (NASDAQ:PATH), Jefferies Group (NYSE:JEF), Toyota Motor (NYSE:TM) and Honda Motor (NYSE:HMC) downgraded by analysts.
Credit Suisse (NYSE:CS) downgraded Toyota Motor from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded Honda Motor from an "Outperform" rating to a "Neutral" rating.
Susquehanna downgraded Berry Petroleum from a "Positive" ratng to a "Neutral" rating.
Rochdale Securities downgraded Jefferies Group from a "Buy" rating to a "Neutral" rating.
Lazard downgraded NuPathe from a "Buy" rating to a "Neutral" rating.
Credit Suisse (NYSE:CS) downgraded Toyota Motor from an "Outperform" rating to a "Neutral" rating.
Credit Suisse downgraded Honda Motor from an "Outperform" rating to a "Neutral" rating.
Susquehanna downgraded Berry Petroleum from a "Positive" ratng to a "Neutral" rating.
Rochdale Securities downgraded Jefferies Group from a "Buy" rating to a "Neutral" rating.
Lazard downgraded NuPathe from a "Buy" rating to a "Neutral" rating.
Wednesday, December 22, 2010
Research In Motion (Nasdaq:RIMM) Retains "Buy" Rating from Jefferies (NYSE:JEF)
Even though Research In Motion (Nasdaq:RIMM) continues to underperform, Jefferies (NYSE:JEF) continues to like them based on strong earnings and guidance.
They said "the Nov quarter often requires a greater level of channel inventories due to the Holiday selling season. Also that a great deal of RIMM recent strength has been from BBM-driven emerging market growth where carriers and distributors require higher channel inventory levels than in N. America."
Jefferies also sees a problem with those continuing to focus on the inventory of RIMM, saying Apples (NASDAQ:AAPL) iPhone channel inventories have increased significantly from 2.5M in CQ2 to 3.3 in CQ3.
They maintain a "Buy" rating on Research In Motion, which closed Tuesday at $58.24, down $0.24, or 0.41 percent.
They said "the Nov quarter often requires a greater level of channel inventories due to the Holiday selling season. Also that a great deal of RIMM recent strength has been from BBM-driven emerging market growth where carriers and distributors require higher channel inventory levels than in N. America."
Jefferies also sees a problem with those continuing to focus on the inventory of RIMM, saying Apples (NASDAQ:AAPL) iPhone channel inventories have increased significantly from 2.5M in CQ2 to 3.3 in CQ3.
They maintain a "Buy" rating on Research In Motion, which closed Tuesday at $58.24, down $0.24, or 0.41 percent.
Constellation Energy (NYSE:CEG) Share Price Attractive Says Jefferies (NYSE:JEF)
Constellation Energy's (NYSE:CEG) share price looks attractive says Jefferies (NYSE:JEF), basing their conclusion on analysing the sum of its parts.
Jefferies said, "We find Constellation Energy's stock price to be attractive on our sum of the parts analysis including P/E for the utility and open EV/EBITDA for the merchant businesses."
Jefferies added, "the ring fencing provisions established by the company should make it easier for Constellation to be acquired and that the company has indicated that it plans to sell its remaining 14.5 million share position in Constellation."'
They lowered their EPS estimate for full year 2011 from $3.60 to $3.25.
Jefferies maintains a "Buy" rating on Constellation, which closed Tuesday at $29.62, up $0.81, or 2.81 percent. Jefferies raised their price target on Constellation from $35 to $40.
Jefferies said, "We find Constellation Energy's stock price to be attractive on our sum of the parts analysis including P/E for the utility and open EV/EBITDA for the merchant businesses."
Jefferies added, "the ring fencing provisions established by the company should make it easier for Constellation to be acquired and that the company has indicated that it plans to sell its remaining 14.5 million share position in Constellation."'
They lowered their EPS estimate for full year 2011 from $3.60 to $3.25.
Jefferies maintains a "Buy" rating on Constellation, which closed Tuesday at $29.62, up $0.81, or 2.81 percent. Jefferies raised their price target on Constellation from $35 to $40.
Jefferies (NYSE:JEF) EPS, PT Raised by Goldman (NYSE:GS)
Citing improvement in their investment banking segment, Goldman Sachs (NYSE:GS) raised their price target and EPS estimates on Jefferies Group (NYSE:JEF).
Goldman said the "significant progress in its investment bank and stabilization/growth in trading post the relatively weak F3Q10 results," solidified the company.
Even so, Goldman maintains a "Sell" rating on Jefferies, as returns continue to lag about 10 percent below their peers. They trade at trades a premium of 2.1X P/TBV against 1.6x for peers.
Full year EPS estimates were raised from $1.45 to $1.50, and for full year 2012 from $1.65 to $1.70. EPS for 2013 was introduced at $1.90.
Jefferies Group closed Tuesday at $26.67, up $0.43, or 1.64 percent. Goldman raised their price target on them from $22 to $23.
Goldman said the "significant progress in its investment bank and stabilization/growth in trading post the relatively weak F3Q10 results," solidified the company.
Even so, Goldman maintains a "Sell" rating on Jefferies, as returns continue to lag about 10 percent below their peers. They trade at trades a premium of 2.1X P/TBV against 1.6x for peers.
Full year EPS estimates were raised from $1.45 to $1.50, and for full year 2012 from $1.65 to $1.70. EPS for 2013 was introduced at $1.90.
Jefferies Group closed Tuesday at $26.67, up $0.43, or 1.64 percent. Goldman raised their price target on them from $22 to $23.
Abercrombie & Fitch (NYSE:ANF) Top 2011 Pick for Jefferies (NYSE:JEF)
Citing a growing business in the U.S. and margins operating at level, Abercrombie & Fitch (NYSE:ANF) is considered the Top Pick of Jefferies (NYSE:JEF) for 2011.
Jefferies said, "We see an accelerating US biz, margin stabilization and international sales at a tipping point which likely means substantial sales."
They raised their EPS estimates for full year 2010 and full year 2011 to $2.05 and $3.90 from $1.95 and $3.80.
Jefferies maintains their Buy rating on Abercrombie & Fitch, $58.14, up $1.15, or 2.02 percent. They raised their price target on them from $75 to $85.
Jefferies said, "We see an accelerating US biz, margin stabilization and international sales at a tipping point which likely means substantial sales."
They raised their EPS estimates for full year 2010 and full year 2011 to $2.05 and $3.90 from $1.95 and $3.80.
Jefferies maintains their Buy rating on Abercrombie & Fitch, $58.14, up $1.15, or 2.02 percent. They raised their price target on them from $75 to $85.
Jefferies (NYSE:JEF) Poised for Market Share Gains, Growth
After a solid last quarter, Jefferies Group appears to have put themselves in a strong position to gain market share and to grow going into 2011.
FBR said, "Following this quarter's better-than-expected results, we reiterate our view that Jefferies remains well positioned for growth and market share gains as investments in personnel come to fruition and the economic environment improves. However, valuation remains uncompelling. On a normalized basis, our 2011 estimate of $1.50 represents 14% earnings growth from this past year's 11-month run-rate, compared to the peer group."
FBR Capital maintains a "Market Perform" rating on Jefferies Group, which closed Tuesday at $26.67, up $0.43, or 1.64 percent. FBR has a price target on them of $25.
FBR said, "Following this quarter's better-than-expected results, we reiterate our view that Jefferies remains well positioned for growth and market share gains as investments in personnel come to fruition and the economic environment improves. However, valuation remains uncompelling. On a normalized basis, our 2011 estimate of $1.50 represents 14% earnings growth from this past year's 11-month run-rate, compared to the peer group."
FBR Capital maintains a "Market Perform" rating on Jefferies Group, which closed Tuesday at $26.67, up $0.43, or 1.64 percent. FBR has a price target on them of $25.
Thursday, December 16, 2010
Tyson (NYSE:TSN) Should Focus on Cost Management
Tyson Foods (NYSE:TSN) has some upside potential because they haven't participated in the higher chicken and pork levels, but instead went the other direction.
Even so, Tyson has a need to zero in on managing cost going forward, and that would position them stronger in a pricing environment which appears to be leveling off.
After cost initiatives, Tyson sees the company saving about $200 million.
Jefferies (NYSE:JEF), which initiated coverage on Tyson today, has EPS/revenue estimates for full year 2011 and full year 2012 of $1.98/$30.3 billion and $2.07/$31.5 billion.
Jefferies started Tyson off with a "Buy" rating. They were trading at $17.39, up $0.44, or 2.60 percent, as of 2:24 PM EST. Jefferies has a price target of $22 on them.
Even so, Tyson has a need to zero in on managing cost going forward, and that would position them stronger in a pricing environment which appears to be leveling off.
After cost initiatives, Tyson sees the company saving about $200 million.
Jefferies (NYSE:JEF), which initiated coverage on Tyson today, has EPS/revenue estimates for full year 2011 and full year 2012 of $1.98/$30.3 billion and $2.07/$31.5 billion.
Jefferies started Tyson off with a "Buy" rating. They were trading at $17.39, up $0.44, or 2.60 percent, as of 2:24 PM EST. Jefferies has a price target of $22 on them.
Hormel Foods (NYSE:HRL) Should Benefit from Pork Packaging Margins
Hormel Foods (NYSE:HRL) appears positioned to take advantage of the high pork packaging margins now part of the industry narrative.
For the overall sector, Jefferies (NYSE:JEF) noted three main drivers:
"1) low cold storage levels, 2) a favorable supply/demand balance, and 3) favorable production lead indicators – including continued reductions in both the size of the breeding herd and number of sows farrowed."
Jefferies EPS/revenue estimates for full year 2011 and full year 2012 are $3.22/$7.5 billion and $3.44/$7.7 billion.
Jefferies initiated coverage today on Hormel Foods with a "Hold" rating. Hormel was trading at $51.17, down $0.44, or 0.86 percent, as of 2:04 PM EST. They have a price target on them of $56.
For the overall sector, Jefferies (NYSE:JEF) noted three main drivers:
"1) low cold storage levels, 2) a favorable supply/demand balance, and 3) favorable production lead indicators – including continued reductions in both the size of the breeding herd and number of sows farrowed."
Jefferies EPS/revenue estimates for full year 2011 and full year 2012 are $3.22/$7.5 billion and $3.44/$7.7 billion.
Jefferies initiated coverage today on Hormel Foods with a "Hold" rating. Hormel was trading at $51.17, down $0.44, or 0.86 percent, as of 2:04 PM EST. They have a price target on them of $56.
Corn Products (NYSE:CPO) to Deliver Less Volume Growth
Volume growth for Corn Products (NYSE:CPO) will be a challenge in 2011, based upon shrinking carbonated soft drink volume.
Jefferies (NYSE:JEF) said, "Corn Products will still deliver low to mid single-digit volume growth driven by a diminished carbonated soft drink volume headwind, continued growth of HFCS exports to Mexico, 3-4% GDP growth in key international markets, and a persistent price premium for U.S. sugar vs. HFCS."
EPS/revenues estimates on Corn Products for full year 2010 and full year 2011 are $2.95/$4.31 billion and $3.77/$5.63 billion.
Jefferies launched coverage on Corn Products today with a "Hold" rating. They were trading at $46.75, down $0.02, or 0.04 percent, as of 1:57 PM EST. Jefferies has a price target of $50 on them.
Jefferies (NYSE:JEF) said, "Corn Products will still deliver low to mid single-digit volume growth driven by a diminished carbonated soft drink volume headwind, continued growth of HFCS exports to Mexico, 3-4% GDP growth in key international markets, and a persistent price premium for U.S. sugar vs. HFCS."
EPS/revenues estimates on Corn Products for full year 2010 and full year 2011 are $2.95/$4.31 billion and $3.77/$5.63 billion.
Jefferies launched coverage on Corn Products today with a "Hold" rating. They were trading at $46.75, down $0.02, or 0.04 percent, as of 1:57 PM EST. Jefferies has a price target of $50 on them.
Archer Daniels Midland (NYSE:ADM) Lacks Short-term Catalysts
Archer Daniels Midland (NYSE:ADM) should remain somewhat benign going forward, as there are few, if any, short-term catalysts to indicate an upward move of significance.
Jefferies (NYSE:JEF) said, "We expect ADM's system processing volume growth to decelerate over the next two quarters as the company laps record U.S. soybean processing volumes and HFCS exports to Mexico, and in calendar 2H11 as ADM laps the addition of two new ethanol plants in summer 2010."
Jefferies initiated coverage on Archer Daniels Midland, starting them off with a "Hold" rating. ADM was trading at $30.38, up $0.16, or 0.53 percent, as of 1:52 PM EST. Jefferies has a price target on them of $34.
EPS estimates for full year 2011 and full year 2012 are $2.87/$65.9 billion and $3.20/$67.4 billion.
Jefferies (NYSE:JEF) said, "We expect ADM's system processing volume growth to decelerate over the next two quarters as the company laps record U.S. soybean processing volumes and HFCS exports to Mexico, and in calendar 2H11 as ADM laps the addition of two new ethanol plants in summer 2010."
Jefferies initiated coverage on Archer Daniels Midland, starting them off with a "Hold" rating. ADM was trading at $30.38, up $0.16, or 0.53 percent, as of 1:52 PM EST. Jefferies has a price target on them of $34.
EPS estimates for full year 2011 and full year 2012 are $2.87/$65.9 billion and $3.20/$67.4 billion.
Bunge (NYSE:BG) Valuation Should Rise on Soybean Prices, US Dollar Weakness
Bunge (NYSE:BG) has been challenged concerning its valuation, but according to Jefferies (NYSE:JEF), they see that changing heading into 2011.
They noted, "We expect Bunge's valuation to move off of its current trough level in 2011 driven by: 1) the resumption of system volume growth, 2) favorable soybean price trends through 1H11, 3) potential U.S. Dollar depreciation, and 4) a growing investor awareness of Bunge's Brazilian sugar and ethanol opportunity."
Jefferies initiated coverage on Bunge today with a "Buy" rating. Bunge was trading at $61.76, up $0.25, or 0.36 percent. Jefferies has a price target of $78 on them, basing it on their EPS/revenue estimates for full year 2010 and full year 2011 of $3.72/$44.9 billion and $5.20/$48.5 billion.
They noted, "We expect Bunge's valuation to move off of its current trough level in 2011 driven by: 1) the resumption of system volume growth, 2) favorable soybean price trends through 1H11, 3) potential U.S. Dollar depreciation, and 4) a growing investor awareness of Bunge's Brazilian sugar and ethanol opportunity."
Jefferies initiated coverage on Bunge today with a "Buy" rating. Bunge was trading at $61.76, up $0.25, or 0.36 percent. Jefferies has a price target of $78 on them, basing it on their EPS/revenue estimates for full year 2010 and full year 2011 of $3.72/$44.9 billion and $5.20/$48.5 billion.
Duke Energy (NYSE:DUK) EPS Estimates Lowered by Jefferies (NYSE:JEF)
Jefferies (NYSE:JEF) lowered their EPS estimates on Duke Energy (NYSE:DUK) for 2011 and 2012, citing, in the case of 2012, assumptions that the Ohio ESP is replaced by another ESP negotiated around the middle of the best and worst case scenario.
"If the company chooses not file an ESP and there is no MRO approved by the end of 2011, we would expect that the current ESP would continue until the PUCO approves an MRO or an ESP. This may reduce the incentive of Duke management to submit an ESP filing and the PUCO cannot force the company to file an ESP," said Jefferies.
EPS estimates for 2011 and 2012 were lowered by $0.10 and $0.05, to $1.30 and $1.35.
Jefferies maintains a "Hold" rating on Duke Energy, which was trading at $17.61, up $0.06, or 0.34 percent, as of 11:55 AM EST. They lowered their price target in response to the lowered EPS estimates, from $18 to $17.50.
"If the company chooses not file an ESP and there is no MRO approved by the end of 2011, we would expect that the current ESP would continue until the PUCO approves an MRO or an ESP. This may reduce the incentive of Duke management to submit an ESP filing and the PUCO cannot force the company to file an ESP," said Jefferies.
EPS estimates for 2011 and 2012 were lowered by $0.10 and $0.05, to $1.30 and $1.35.
Jefferies maintains a "Hold" rating on Duke Energy, which was trading at $17.61, up $0.06, or 0.34 percent, as of 11:55 AM EST. They lowered their price target in response to the lowered EPS estimates, from $18 to $17.50.
Joy Global (NASDAQ:JOYG) Driven by Commodity Demand
As commodity demand goes, so will go mining equipment manufacturer Joy Global (NASDAQ:JOYG), and it appears there will be nothing in the short term which will cause commodity demand to fall.
Jefferies (NYSE:JEF) noted, "Management highlighted increased investment by mining companies globally and a shift from brownfield expansions to greenfield opportunities (30-35% increase in cap ex in 2010 and 15-20% higher in 2011)."
They also raised their EPS/revenue estimates for full year 2011 and full year 2012 to $5.15/$3,950M and $5.70/$4,245M from $4.85/$3,800M and $5.60/$4,195M.
With limited supply as measured against increasing commodity demand, Jefferies also sees prices rising, along with margins, which should allow more acquisitions from miners, which will strongly benefit Joy Global.
Jefferies maintains their "Hold" rating on Joy, which was trading at $85.38, down $0.40, or 0.47 percent, as of 11:36 AM EST. They raised their price target on them from $74 to $95.
Jefferies (NYSE:JEF) noted, "Management highlighted increased investment by mining companies globally and a shift from brownfield expansions to greenfield opportunities (30-35% increase in cap ex in 2010 and 15-20% higher in 2011)."
They also raised their EPS/revenue estimates for full year 2011 and full year 2012 to $5.15/$3,950M and $5.70/$4,245M from $4.85/$3,800M and $5.60/$4,195M.
With limited supply as measured against increasing commodity demand, Jefferies also sees prices rising, along with margins, which should allow more acquisitions from miners, which will strongly benefit Joy Global.
Jefferies maintains their "Hold" rating on Joy, which was trading at $85.38, down $0.40, or 0.47 percent, as of 11:36 AM EST. They raised their price target on them from $74 to $95.
Jefferies (NYSE:JEF) Weighed by Fixed Income
The financial sector is facing a number of challenges going forward, not the least the growing weakness of fixed income, which will hinder Jefferies Group (NYSE:JEF), says Goldman Sachs (NYSE:GS).
They said, "JEF should see particular benefit in its improved banking capabilities and high yield issuance, but fixed income could remain pressured amid a tough mini trading environment, lower rate volatility, and risk off trades in 4Q10."
EPS for 4Q10 was raised from $0.25 to $0.29. 2011/2012 EPS estimates of $1.45/1.65 were kept the same.
Goldman reiterates their "Sell" rating on Jefferies Group, which closed at $26.21 Wednesday, up $0.39, or 1.51 percent. Goldman has price target of $22 on them.
They said, "JEF should see particular benefit in its improved banking capabilities and high yield issuance, but fixed income could remain pressured amid a tough mini trading environment, lower rate volatility, and risk off trades in 4Q10."
EPS for 4Q10 was raised from $0.25 to $0.29. 2011/2012 EPS estimates of $1.45/1.65 were kept the same.
Goldman reiterates their "Sell" rating on Jefferies Group, which closed at $26.21 Wednesday, up $0.39, or 1.51 percent. Goldman has price target of $22 on them.
Subscribe to:
Posts (Atom)