Owens Corning (NYSE:OC): Barclays’ has had an increased confidence in roof pricing and inventory trends, and it sees an upside due to the restructuring program in composites. Shares have an Overweight rating and a $42 price target,which was increased from $40.
Aircastle LTD (NYSE:AYR) valuation range has been lowered by Wells Fargo due to a Financial Times report claiming that cargo operator Southern Air lowered its FY12 EBITDA forecast by nearly 55 percent. About 30 percent of Aircastle’s portfolio value is generated from cargo aircraft. The firm has decided to keep an Outperform rating on the stock.
Norfolk Southern Corp. (NYSE:NSC) commentary is believed by JPMorgan to not be an satisfying explanation to the reason for the company’s significantly missed Q3 earnings expectations. The firm has decided to keep its Neutral rating but reduced its price target on the stock. JPMorgan believes that there will be significant weakness in the company’s shares today, as well as modest pressure on other railroad names.
Salesforce.com (NYSE:CRM): Following its attendance at Salesforce.com’s annual Dreamforce conference, Wells Fargo has stated that it thinks that Salesforce.com “has the product breadth to become a $10B revenue company.” The firm claims that Salesforce.com now has a “massive partner ecosystem,” and it reiterates its Outperform rating on the stock.
Biovest International (NASDAQ:BVTI), which is a majority-owned subsidiary of Accentia Biopharmaceuticals, (ABPI), has held a regulatory meeting with the European Medicines Agency in London. At this meeting, the EMA gave information to Biovest in hopes it will assist in finalizing Biovest’s pending Marketing Authorization Application which seeks EU marketing approval for BiovaxID, which is the personalized cancer vaccine from Biovest to treat non-Hodgkin’s lymphoma. The meeting discussed legal, regulatory, and scientific issues for the intended MAA as a means to facilitate subsequent validation and assessment of the application. The company believes that the MAA will be filed early next year. If it is approved, this would be the first cancer vaccine for lymphoma patients available in Europe.
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