Analyst Insights: PetSmart, Analog Devices, Infosys May 23rd
PetSmart, Inc. (NASDAQ:PETM): RBC Capital increased its target on PetSmart after the company reported stronger than expected Q1 EPS based on a normalized tax rate. The firm believes that the company’s results were “particularly strong,” and it maintains an Outperform rating. Baird raised its price target on PetSmart following Q1 results citing its merchandising strength and better than expected margins. Shares are Outperform rated.
Analog Devices Inc. (NYSE:ADI): Baird said Analog Devices has shown ongoing improvement in fundamentals and believes its strong product portfolio offers an attractive defensive bias. Shares are Outperform rated. After Analog Devices reported stronger than expected results but slightly lowered its guidance, RBC Capital now expects the company’s rebound to peak revenue to be delayed an additional two quarters, until the October, 2013 quarter. However, the firm expects long-term investors to become more comfortable with the company’s strategy and it maintains an Outperform rating.
Infosys Technologies Ltd. (NASDAQ:INFY): 07:54 EDT Correction: Infosys 7:43 story should be company Incyte, please disregard
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