Analyst Insights: Novavax, Abbott, Gildan, PVH, Rovi May 4th
Abbott Laboratories (NYSE:ABT): RBC Capital expects an FDA panel evaluating Pfizer’s (NYSE:PFE) rheumatoid arthritis drug to recommend that the agency approve the treatment, which will compete with Abbott’s (NYSE:ABT) Humira. However, the firm still expects Humira to grow following the launch of Pfizer’s drug, and it maintains a $68 target and Outperform rating on Abbott.
Novavax, Inc. (NASDAQ:NVAX): Novavax reports Q1 EPS (6c), consensus (4c)
Gildan Activewear Inc. (NYSE:GIL): After Gildan’s stock dropped after the company agreed to acquire Anvil, RBC Capital thinks that Gildan’s shares could jump quickly, as the firm expects positive monthly screenprint market share data to be released next week. The firm maintains a $30 target and Outperform rating on the stock,
Phillips-Van Heusen Corp. (NYSE:PVH): Goldman recommends buying PVH Corp (NYSE:PVH) on weakness related to Warnaco’s (NYSE:WRC) disappointing Q1 report. The analyst said PVH has different European exposure and raised Q1 EPS to the high end of the range. Shares are Buy rated with a $101 price target.
Rovi Corporation (NASDAQ:ROVI): Cowen said Rovi reported in-line Q1 earnings with a slight revenue shortfall and believes the shares could be weaker due to the departure of its CFO. The firm believes the departure was an ordinary career move rather than for negative reasons. Cowen believes trends are in place for a stronger second half with room for upside. Shares are Outperform rated.
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