Analysts: Apple Can Nearly Double Buybacks and 3 More Research Notes to Explore
Apple Inc. (NASDAQ:AAPL): RBC Capital believes that Apple could nearly double the amount of money it spends on share buybacks while still maintaining a manageable leverage ratio. The firm thinks that such a move could increase the company’s 2014 EPS by 10 percent or more. It keeps an Outperform rating on the stock.
PetroChina (NYSE:PTR): Credit Suisse has assumed coverage on PetroChina with an Underperform rating down from an Outperform. This was due to weak downstream performance, higher costs in upstream, and concerns regarding funding gap and negative cash flow.
Foot Locker (NYSE:FL): Credit Suisse said while second quarter upside may be limited, there are numerous opportunities for Foot Locker shares to move higher driven by several catalysts that include store remodel activity, international growth, increased buyback activity, and additional margin drivers. The shares are Outperform rated with a $43 price target.
Home Depot (NYSE:HD): Morgan Stanley says that Home Depot vendor results indicate that second quarter trends are solidly driven by increased repair and remodeling activity, favorable weather, and strong housing data. The firm expects internal initiatives to aid the quarterly results but keeps an Equal Weight rating due to valuation.