Express Inc. (NYSE:EXPR): Morgan Stanley views the sell-off in Express following the Q1 miss and lowered guidance as overdone. The firm reiterates its Buy rating and lowers its price target to $20 from $27.
Oracle Corp. (NASDAQ:ORCL): Morgan Stanley’s recent customer checks indicate solid early interest in Oracle’s Fusion apps, which adds to potential 2H 2012 catalysts. The firm views Oracle risk/reward as attractive and reiterates its Overweight rating and $33 price target.
J. C. Penney Company, Inc. (NYSE:JCP): Deutsche Bank lowered its FY12 GAAP EPS estimate for J.C. Penney to 85c from $1.58, well below the consensus of $1.62, and dropped its price target for shares to $26 from $38. Deutsche expects the company’s same-store-sales trends could get worse before getting better and keeps a Hold rating on the stock.
Infosys Technologies Ltd. (NASDAQ:INFY): Morgan Stanley said current consensus estimates do not reflect myelofibrosis competition, which could impact Infsys Jakafi sales. Shares are Equal Weight rated.
Wet Seal Inc. (NASDAQ:WTSLA): Brean Murray lowered its price target on Wet Seal following missed Q1 results and lower Q2 guidance. The firm maintains its Buy rating due to its strong balance sheet and believes the company is a turn around candidate.
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