Active Stock Alerts: QUALCOMM, Vertex, Michael Kors, Navistar June 8th
QUALCOMM Incorporated (NASDAQ:QCOM): JPMorgan continues to expect a material shortfall in Qualcomm 28nm chips in both Q3 and Q4 due supply shortages, but views the recent weakness in the stock around this issue as a buying opportunity. The firm trimmed its earnings for Qualcomm but reiterates an Overweight rating on the stock.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX): After data on Vertex’s cystic fibrosis treatment, Kalydeco, was reported yesterday, JMP Securities believes that the data supports the disease modifying mechanism of the drug. The firm expects most patients with the G551D mutation to adopt the drug and it maintains an Outperform rating on the stock.
Michael Kors Holdings (NYSE:KORS): Morgan Stanley believes Michael Kors’ risk is to the upside and that shares are overly discounting a deceleration. The firm does not believe Michael Kors’s pullback is fundamentally driven and reiterates its Overweight rating.
Navistar International Corp. (NYSE:NAV): UBS lowered its price target on Navistar following disappointing Q2 results. The firm cited lowered guidance, weak seasonality, and demand headwinds from truckers waiting for Navistar to receive EPA emission certification. Shares remain Buy rated.
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