Analyst Alerts: Salesforce.com, Cerus, Chesapeake, Silicom, Micron May 14th
Chesapeake Energy Corporation (NYSE:CHK): JPMorgan lowered its price target for Chesapeake after the company disclosed in a regulatory filing that it has postponed its planned Eagle Ford Shale volumetric production payments. The firm keeps an Underweight rating on the stock.
Salesforce.com (NYSE:CRM): Goldman said Salesforce.com has been week on concerns that bookings growth will be below consensus estimates of 31% year-over-year. The firm said there is a slight chance bookings growth comes in lower but said stronger European deal signings and balance sheet deferrals will offset potential softness. The firm said the Salesforce.com continues to benefit from the shift to SaaS, and a large and growing pipeline. The firm reiterates its Buy rating and $170 price target.
Cerus Corporation (NASDAQ:CERS): The NASDAQ OMX Group (NASDAQ:NDAQ) announced the results of the semi-annual re-ranking of the NASDAQ Biotechnology Index (NBI), which will become effective prior to market open on May 21.
Silicom Ltd. (NASDAQ:SILC): Rodman & Renshaw views the nearly 30% pullback in shares of Silicom since the company’s Q1 results as overdone. The firm finds the stock’s valuation compelling at current levels and keeps an Outperform rating on the name with a $25 price target.
Micron Technology Inc. (NASDAQ:MU): After SK Hynix dropped out of the bidding for flash memory maker Elpida (ELPDF), RBC Capital thinks it’s increasingly likely that Micron (NASDAQ:MU) will acquire all of Elpida, and the firm doesn’t believe that the deal would be accretive to Micron for at least two years. The firm says that it would become more bearish on Micron’s earnings outlook if it does acquire Elpida, but it maintains an Outperform rating on the stock at this time.
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