Riverbed Technology, Inc. (NASDAQ:RVBD) price target has been increased by Wunderlich following its mid-quarter channel checks suggesting that the company continues down the right path. According to the firm, there is improved execution, and it maintains its Buy rating on the stock.
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Lam Research Corporation (NASDAQ:LRCX): Citigroup has reduced its Semiconductor Equipment sector view to Cautious from Positive due to expectations that foundry spending may see a small reduction in 2013 as Apple (NASDAQ:AAPL) transports manufacturing to TSMC (NYSE:TSM) away from Samsung (SSNLF). Lam Research has been downgraded by the firm to Neutral, and it reiterates its Neutral rating on Applied Materials (NASDAQ:AMAT). The firm has decided to keep a Buy rating on KLA-Tencor (NASDAQ:KLAC) as it reduces its price target to $61 from $66 on the stock.
QUALCOMM Incorporated (NASDAQ:QCOM) and Broadcom (NASDAQ:BRCM) are expected by FBR Capital to keep outperforming the majority of other chip brands while Apple (NASDAQ:AAPL) continues its production of the iPhone 5. According to FBR, its channel checks suggest that iPhone 5 component suppliers Qualcomm and Broadcom have been experiencing some of the strongest fundamental trends in the semiconductor space. The firm has decided to keeps its Outperform rating but raised its price target for Qualcomm shares to $72 from $70. The firm maintains an Outperform rating and a $43 price target on Broadcom shares.
Western Union Co. (NYSE:WU): After it met with management, Citigroup thinks that Western Union’s trends continue in the direction of the company’s guidance. Citi thinks that the stock’s valuation is depressed, and it keeps its Buy rating and $24 price target on the stock.
The McGraw-Hill Companies, Inc. (NYSE:MHP) estimates and price target have been increased by Benchmark Co. due to the recent increase in bond offerings. The firm maintains a Buy rating on the stock.
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