BlackBerry (NASDAQ:BBRY): Pacific Crest said that BlackBerry’s sell-through has “fallen off a cliff” and that shares have downside to $6 if privatization fails. The firm rates BlackBerry an Underperform.
Forest Labs (NYSE:FRX): BMO Capital says insider Bernet Saunders becoming the new CEO of Forest Labs indicates that the company is not for sale and that investors should not expect a new strategic direction. The firm keeps an Underperform rating on the stock.
Urban Outfitters (NASDAQ:URBN): RW Baird is encouraged by recent signs of progress in the turnaround at Urban Outfitters but believes that the deceleration since August may raise near-term uncertainty. The firm noted that comparisons are most difficult in September but easy in October and trimmed their estimates and price target accordingly. The shares remain Neutral rated and the price target has been lowered to $47 from $48.
SunEdison (NYSE:SUNE): Lazard Capital views SunEdison’s decision to IPO its semiconductor business as a solid strategic move that will unlock shareholder value. The firm sees fair value of SunEdison shares at $11-$15 based on a sum-of-parts analysis and keeps a Buy rating on the stock.