Harley-Davidson, Inc. (NYSE:HOG): According to Citigroup, its checks with dealers show Harley-Davidson’s American retail sales moderated last month, earning low single digits versus up 7-9% in May. Citi does note, however, that comparisons were more difficult through the quarter. The firm estimates Harley-Davidson’s U.S. retail sales are moving up 4-5% in Q2, as opposed to 26% growth in Q1. Citi believes investors might see the company’s June quarter results as somewhat negative, but holds to a Buy rating on the stock with a price target of $61.
Chevron Corp. (NYSE:CVX): Citigroup reduced its Q2 estimate for Chevron prior to its earnings report this evening, to $3.12 from $3.49, lower than the consensus estimate of $3.20. Citi did so due to reduced oil price assumptions for its lowered estimates, and reduced its price target for shares to $120 from $126. The firm maintains a Buy rating on the stock.
Cummins Inc.‘s (NYSE:CMI) estimates and price target have been reduced by William Blair following its cut to guidance. William Blair maintains a Market Perform rating on shares. Among peers, the firm thinks Caterpillar (NYSE:CAT) will deliver as expected on its guidance for the year, and that WABCO (NYSE:WBC) will elevate the lower end of its outlook.
Mead Johnson Nutrition Company (NYSE:MJN) has been added to William Blair’s Current Better Values List, a list of names the firm thinks will otuperform the market in the coming two years after the pullback of late in shares. William Blair thinks yesterday’s report from China about formulas that include the flavoring essence vanillin will not alter the outlook for the infant formula market there, or Mead’s placement within it. The firm maintains an Outperform rating on shares.
Blucora (NASDAQ:BCOR): Benchmark Co. still sees Blucora as an appealing investment and thinks the risk/reward for shares is positive around the company’s Q2 earnings report. The firm holds to a Buy rating on the stock with a $17 price target.
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