Analyst Reduces BofA Estimates, RIMM’s New CEO a Positive
Bank of America Corporation (NYSE:BAC): JMP Securities reduced its 2012 EPS estimate for Bank of America to 78c from $1.01, versus the consensus estimate of 85c. The reduction reflects what the firm sees as weakness in the bank’s trading and ongoing weakness in traditional banking, and the firm maintains a Market Perform rating.
Research In Motion Limited (NASDAQ:RIMM): After Research In Motion announced that its co-CEOs were stepping down from those roles and would be replaced by Thorsten Heins, RBC Capital sees the move as positive, as it allows for “change and continuity” and may ease investors’ concerns, according to the firm. The firm, however, thinks the extent to which the move will impact the company is unclear and it maintains a Sector Perform rating.
Tempur Pedic International Inc. (NYSE:TPX): Oppenheimer predicts that Tempur-Pedic’s Q4 results and 2012 guidance, along with the launch of a new mattress line later in January, will be positive catalysts for the stock. The firm continues to recommend buying the stock.
Online Resources Corp. (NASDAQ:ORCC): DA Davidson expects Online Resources to report stronger than expected Q4 results, as the firm thinks that the company has benefited from the Durbin Amendment. The firm maintains a Buy rating on the stock.
Biogen Idec Inc. (NASDAQ:BIIB): After the FDA changed the label of Biogen’s MS treatment, Tsybari, to warn that it’s a PML risk factor for those with JCV, Oppnehimer expects the change to result in higher sales as doctors become more comfortable prescribing the medicine to JCV-negative patients.
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