Analyst Insights: Cisco Systems, priceline.com, Invesco, ,Health Net May 10th
Cisco Systems, Inc. (NASDAQ:CSCO): Deutsche Bank lowered its estimates and price target for Cisco citing the company’s weak guidance but maintains a Buy rating on the stock due to an expected recovery in the second half of the year.
priceline.com Incorporated (NASDAQ:PCLN): Piper Jaffray raised its price target for Priceline.com following the company’s Q1 results and still believes the stock can hit $1,000 within 24 months. Piper believes Priceline.com’s Q2 guidance is likely conservative and reiterates an Overweight rating on the name.
Invesco Ltd. (NYSE:IVZ): Citigroup removed Invesco from its Top Picks Live list citing valuation and a lack of catalysts. The firm lowered its price target for shares to $28.50 from $31 but maintains a Buy rating on the name.
(:NOSYMBOL): U.K. manufacturing rose more sharply than expected in March, while a sharp decline in oil and gas extraction and utilities output led to an unexpectedly large fall in industrial production, according to official data and reported in Reuters.
Health Net Inc. (NYSE:HNT): Citigroup believes Arizona cost Health Net $50M in operating earnings, or 35c in earnings, in 2011, and thinks the company should sell its Arizona business to another plan. Citi adds that absent of a sale, it believes incurring severance costs to exit the market would still be a good decision financially. The firm expects shares would react favorably to the company exiting the Arizona market and keeps a Buy rating on the stock.
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