Merck & Co. (NYSE:MRK): Jefferies has brought shares of Merck from Hold to Buy, based on expectations that shareholder pressure will likely lead to restructuring. It also raised its price target from $48 to $54, and points out that Merck could spin-off its Animal Health and Consumer Health businesses.
Spirit AeroSystems (NYSE:SPR): Cash flow should improve moving ahead, driven by 787/G650 performance and increased 737/777 output, which should offset the A350 cash burn according to UBS. The firm rates the shares a Buy, and raised its price target from $20 to $25.
Eli Lilly (NYSE:LLY): Citing a lack of downside risk catalysts and the 3.6 percent dividend yield, Jefferies has upgraded shares from Underperform to Hold, and raised its price target on the stock from $44 to $49.
Foot Locker (NYSE:FL): Sterne Agee sees headwinds as providing a buying opportunity, as a cold spring, along with shifting year-over-year calendars and product launch dates pushed the share price down. The firm expects the company’s sales and EBIT to continue to grow, and it keeps a $41 price target and Buy rating on the stock.
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