Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was placed on Stifel Nocolaus’ Select List following the company’s announcement of positive Phase 2b trial results of its LX4211 drug t treat Type 2 diabetes. The firm is also optimistic concerning the rest of Lexicon’s fully-owned pipeline raising its price target from $3 to $4 and giving a Buy rating on the shares.
First Horizon National Corp. (NYSE:FHN): Following First Horizon’s meeting with Fannie Mae and its announcement of increased mortgage repurchase expenses, Stifel Nicolaus sees this removing a great deal of overhang on the shares. The firm maintains its Buy rating and $11 price target on the stock.
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Agrium Inc. (NYSE:AGU): Macquarie believes the Street has priced a significant downturn fort Agrium, Mosaic (NYSE:MOS), and Potash Corp’s (NYSE:POT) earnings and free cash flow, but the firm believes the cash flows will support important dividend increases, supporting PE multiples. Macquarie keeps an Outperform rating for all three fertilizers.
QUALCOMM Incorporated’s (NASDAQ:QCOM) 2012 handset unit growth forecast has been reduced to 6% from 8% by Barclays, who has also reduced the smartphone forecast from 46% to 42%. This is due to a weakening macro environment, soft sell through, and channel destocking. The firm still prefers Qualcomm (NASDAQ:QCOM), Apple (NASDAQ:AAPL), and Broadcom (NASDAQ:BRCM).
Comerica Incorporated (NYSE:CMA) will probably report higher peer loan growth in future quarters, claims Oppenheimer. The firm sees lower earnings rist for the company than for other banks in the region. The firm keeps its Outperform rating and $38 price target on the stock.
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