Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX): To reflect slowing global growth, Dahlman Rose reduced its price estimates for 2012 and 2013 copper prices. The firm reduced the Q2 EPS estimate for Freeport McMoRan to 70c from 90c, 2012 from $4.40 to $3.20, and for 2013 from $5.50 to $4.55. Shares have a Buy rating and a price target of $45, down from $54.
VMware, Inc. (NYSE:VMW) has been added to Credit Suisse’s U.S. Focus List due to its defensible position in datacenter virtualization, and the fimr states that the company is in position to monetize the infrastructure-as-a-service growth. Shares have an Outperform rating.
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Sprint Nextel Corp. (NYSE:S): Credit Suisse is gaining confidence that Sprint will be able to gain an EBITDA of $8.1 billion during 2014, after the completion of Network Vision. Shares have an Outperform rating.
Select Comfort Corporation (NASDAQ:SCSS) is expected to benefit from Mattress Firm’s (NASDAQ:MFRM) reduced year and Q2 sales outlook. According to Piper Jaffray, part of Mattress Firm’s Q2 sales weakness can be attributed to Tempur-Pedic’s (NYSE:TPX) Cloud Supreme promo, which should not have much effect upon Select Comfort’s results for Q2. The firm views Select Comfort’s current valuation as compelling and keeps an Overweight rating on the stock.
Mattress Firm Holding Corp (NASDAQ:MFRM) price target was reduced by Wedbush following the company’s reduced outlook, but the firm mentions that the company’s earnings remain intact. Wedbush maintains an Outperform rating on the stock.
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