Active Stock Alerts: Boeing, EMC, Safeway, Rent-A-Center May 22nd
Boeing Co. (NYSE:BA): Sterne Agee believes that concerns about commercial aerospace companies generating excess capacity is overblown, as Boeing’s backlog deferral rates are at trough levels and the growth of the global fleet as measured by net deliveries is at its historical average. The firm maintains an $87 target and Buy rating on Boeing.
EMC Corporation (NYSE:EMC): Sterne Agee believes that EMC’s multiple will expand over the next few years because of its exposure to cloud computing and big data. The firm expects the company to be the leader in these sectors and it reiterates a $32 target and Buy rating on the stock.
Safeway Inc. (NYSE:SWY): Cowen said Safeway has three catalysts upcoming over the next 18 months including the waning of historical inflation, the acceleration of mobile device technology to replace coupon clipping, and an improvement in non-grocery business trends including prepaid phone cards and gift cards. Shares remain Outperform rated.
Rent-A-Center Inc. (NASDAQ:RCII): Stifel Nicolaus believes that Rent-A-Center’s EPS can compound at a 10% plus pace over the next few years, likely causing the stock’s valuation to increase. The firm thinks that several issues facing the company are misunderstood by investors, and Stifel expects the stock to benefit from its relative stable nature if the stock market continues to be weak and volatile. The firm maintains a Buy rating.
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