Analysts: Blackberry’s ‘Staggering’ Miss and 3 Other Research Notes to Explore
BlackBerry (NASDAQ:BBRY): Citigroup lowered its estimates and price target for BlackBerry to $7 from $9, citing the company’s “staggering” miss that was announced Friday afternoon. Citi believes potential buyers for the company are likely to wait for more stabilization and reiterates a Sell rating on BlackBerry shares.
Nike (NYSE:NKE): Citigroup raised its price target for Nike shares to $81 from $72 and views the company’s investor day on October 9 as the next catalyst for the stock. Citi believes Nike could issue annual revenue growth guidance of 9 percent to 9.5 percent through fiscal year 2018, which it says would imply revenue of $39.5 billion. The firm reiterates a Buy rating on the stock.
Maxim Integrated (NASDAQ:MXIM): Goldman upgraded Maxim to Conviction Buy from Neutral based on relative valuation and expectations for improving trends at Samsung, potential PMIC/sensor content gains, industrial and commercial markets growth, and cash returns to shareholders. The shares’ price target has been raised to $34 from $30.
Towers Watson (NYSE:TW): JPMorgan downgraded Towers Watson to Neutral from Overweight citing the company’s decelerating core business. Note shares were upgraded Monday morning at Deutsche Bank.