Analyst Insights: Delta Air, ProLogis, Pharmacyclics, Illumina, Navistar International June 5th

Delta Air Lines Inc. (NYSE:DAL): After Delta’s stock sold off due to disappointment over its May Traffic and Yield Report, Sterne Agee continues to believe that airline fundamentals have improved and it maintains an $18 target and Buy rating on the stock.

ProLogis (NYSE:PLD): Imperial Capital believes macro headwinds and foreign exchange moves have not been fully priced into shares of ProLogis. The firm lowered its price target and maintains an Underperform rating on the name.

Pharmacyclics Inc. (NASDAQ:PCYC): After reviewing data presented at ASCO and attending a company meeting, Needham sees Pharmacyclics and collaborator Johnson & Johnson (NYSE:JNJ) being in a strong position in the markets addressed by ibrutinib given the drug’s potential as both a front-line and relapsed or refractory agent. The firm believes Pharmacyclics may initiate a single-agent Phase 3 trial for ibrutinib in front-line elderly chronic lymphocytic leukemia by the end of this year and reiterates a Buy rating and $34 price target on shares.

Illumina Inc. (NASDAQ:ILMN): Leerink views Complete Genomics’ (NASDAQ:GNOM) restructuring and postponement of capacity expansion as incremental positives for Illumina (NASDAQ:ILMN). The firm believes pricing in the whole human genome sequencing market could stabilize as a result of Complete Genomics’ actions but keeps a Market Perform rating on shares of Illumina.

Navistar International Corp. (NYSE:NAV): Wells Fargo said May Class-8 truck orders increased slightly to 18,000 units, in-line with recent checks. The firm said the inventory ratio will be below 2 for the third consecutive month and feedback suggests election uncertainty is driving truckers to defer new truck investment.

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