Halliburton (NYSE:HAL): Barclays has raised its Halliburton estimates based on buyback expectations and continues to view the shares as compelling. The firm rates Halliburton at Overweight with a $76 price target, up from $71.
Adobe (NASDAQ:ADBE): Pacific Crest has upgraded Adobe to Outperform from Sector Perform, as the firm thinks the company is likely to benefit from growing CMO budgets while its business model transition is moving smoothly and gaining increased visibility. The price target $60.
Broadcom (NASDAQ:BRCM): Lazard Capital’s supply chain checks have increased its concerns regarding Broadcom, as the analyst believes that Apple will bring its connectivity solution in-house by 2015 following the hiring of TI’s wireless connectivity team in Israel. The firm notes that current development efforts are behind schedule given Broadcom may be exploring alternative options, and the 4G market continues to be dominated by Qualcomm. The firm maintains its Neutral rating.
Rigel Pharmaceuticals (NASDAQ:RIGL): Leerink has lowered its price target on Rigel shares to $5 from $7 following the failure of the proof of concept trial of R343 for asthma. However, the firm maintains its Outperform rating on the stock.