Eli Lilly & Co. (NYSE:LLY): Jefferies downgraded Eli Lilly to Underperform from Hold, citing deteriorating base business fundamentals, and the firm lowered its price target for Eli Lilly shares to $40 from $49.
Vivus (NASDAQ:VVUS): JPMorgan believes Vivus’s deal with Auxilium for the exclusive rights to market Stendra is a positive surprise, but adds that a partnership agreement for Qsymia to help with commercialization efforts remains key for investors. The firm keeps an Overweight rating on Vivus stock.
Melco Crown (NASDAQ:MPEL): Macquarie upgraded Melco Crown to Outperform from Neutral, and the firm also raised estimates based on strong execution, expansion opportunities into new jurisdictions, and, more importantly, the opportunity to move underutilized table at Altira to Studio City or to City of Dreams in order to unlock value. The firm raised its price target for Melco shares to $41.50 from $26.
American Apparel (AMEX:APP): Brean Capital would use weakness in American Apparel as a material buying opportunity, citing signs of a turnaround, with October being the easiest comp of the fiscal year. The firm also noted solid results in American Apparel’s online and wholesale segments; the analyst rated the shares a Buy with a $2.50 price target.
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