Analysts: Abbott’s MitraClip May Accelerate Growth of Business and 3 More Research Notes to Look Through
Brinker International (NYSE:EAT): Wunderlich upgraded Brinker to Buy from Hold, noting positive valuation and confidence in the management’s plan; the firm raised its price target for Brinker shares to $50 from $44.
Transocean Ltd. (NYSE:RIG): Guggenheim downgraded Transocean to Neutral from Buy due to valuation concerns, risks to the company’s fleet renewals, and higher overall costs; the price target on Transocean’s shares has dropped to $53 from $58 previously.
Western Digital Corp. (NYSE:WDC): Brean Capital advises investors to use any weakness in Western Digital to build positions; the firm said it remains one of its top two picks, citing the hard disk drive industry’s gross margins increase, the company’s earnings growth potential, and favorable product mix. Western Digital shares are Buy rated with a $85 price target.
Abbott Laboratories (NYSE:ABT): The Food and Drug Administration has approved Abbott’s transcatheter mitral repair device, the MitraClip, but Wells Fargo believes that unfavorable reimbursement trends for the device will limit its uptake stateside. That said, the firm predicts that U.S. approval of the device will help accelerate the growth of Abbott’s medical device business, and it keeps an Outperform rating on the shares.
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