Chesapeake Energy Corporation (NYSE:CHK): After Chesapeake announced a new, $3B loan to replace its previous credit facility, Stifel Nicolaus believes that the new loan, although more expensive, provides greater flexibility. The firm expects the company to be boosted by capex cuts and several upcoming transactions, and it maintains a Buy rating on the shares.
Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL): Cowen met with Auxilium management and came away with increased confidence in the company’s prospects for two trial drugs, Testim and Xiaflex. The firm believes there are sizable market opportunities for both drugs, suggesting the shares remain undervalued. Shares are Outperform rated.
Ancestry.com Inc. (NASDAQ:ACOM): Piper Jaffray recommends buying shares of Ancestry.com on weakness after NBC announced over the weekend the cancellation of “Who Do You Think You Are?” Piper thinks Ancestry.com should be able to reallocate dollars spent on the show to other media and reiterates an Overweight rating on the stock.
Yahoo! Inc. (NASDAQ:YHOO): After Yahoo agreed to appoint Dan Loeb and two of his allies to its board and CEO Scott Thompson resigned, Stifel Nicolaus thinks that the new board will realize and maximize the value of the company’s stake in Alibaba. The firm views interim CEO Ross Levinsohn as an “extremely qualified executive” who will be able to calm the company’s employees. The firm maintains a $21 target and Buy rating on the stock.
CenturyLink, Inc. (NYSE:CTL): After CenturyLink reported higher than expected Q1 EPS, and raised its 2012 EPS guidance, Argus expects the stock’s multiple to rise. The firm maintains a $48 target and Buy rating.
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