Cisco Systems, Inc. (NASDAQ:CSCO): UBS said supply chain and distributor companies have generally reported softness in their communications and networking businesses along with smaller peers that compete with Cisco. The firm said channel checks show a slow start to the quarter but are improving. They expect Cisco to report in-line April revenue results with upside being challenging. Shares are Buy rated with a $24 price target.
Panera Bread Co. (NASDAQ:PNRA): After Panera reported higher than expected Q1 EPS and raised its 2012 EPS guidance, Jefferies thinks the company can surpass expectations in 2012 and 2013. The firm maintains a Buy rating.
Ryder System, Inc. (NYSE:R): After Ryder reported stronger than expected Q1 results and raised its guidance, Jefferies was surprised by the “muted” reaction by the stock. The firm thinks that the stock is poised to rebound when worries about the commercial vehicle sector dissipate, and it maintains a Buy rating on the shares.
Baker Hughes Incorporated (NYSE:BHI): UBS said Bakers Hughes shares are compelling for long-term investors but impatient investors might want to wait for Q3 for possible entry given margins will not bottom until Q4 or Q1. The firm shares are trading at a 40% discount to its 10 year average and reiterates its Buy rating and $60 price target.
Inphi Corporation Common Stock (NYSE:IPHI): Jefferies believes that Inphi can beat expectations starting in 2H12, due to the strength of its LR-DIMM and 40/100G product cycles. The firm recommends buying the stock, especially on any weakness.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.