Facebook (NASDAQ:FB): Prior to the market’s open, Topeka raised Facebook’s price target to $47 from $40 due to a valuation short to year-end 2014 from year-end 2013. The analyst says that ad agency checks continue to show that Facebook is a must-buy for digital advertisers looking for both brand and direct response ad buyers, and that clicks in the News Feed and price per click are increasing. The shares are Buy rated.
InterOil (NYSE:IOC): Raymond James questions the accuracy of the PNG Industry News report and notes that the blog has been wrong many times in the past. The shares are Outperform rated with a $100 price target.
MannKind Corp. (NASDAQ:MNKD): Summer Street says it has become “suspicious” of the results from MannKind’s AFFINITY trial, since the company released data on only two of three arms of the study. The firm says MannKind released the results on the injectable insulin and Dreamboat arms but withheld results on the Medtone C-arm, which the firm says is “unprecedented.” Summer Street does not have an official rating on shares of MannKind.
Applied Materials (NASDAQ:AMAT): DA Davidson upgraded Applied Materials to Buy from Neutral based on a bullish 2014 industry outlook for increased capital intensity levels, valuation, and the new management transition. The price target was raised to $18 from $15.