Microsoft (NASDAQ:MSFT): Improved earnings visibility, cloud momentum, a bottom in PC weakness, enterprise strength, and expectations for a seasonally strong second half of 2013 lead UBS to believe that Microsoft can drive higher. The firm keeps its Buy rating, and raises its price target from $33 to $40.
Theravance (NASDAQ:THRX): Piper Jaffray believes Royalty Pharma’s higher takeout offer for Elan presents a buying opportunity in shares of Theravance. The firm expects other bidders to emerge should Elan back out of its deal with Theravance, and that the interest shown by financial buyers will increase the pressure on GlaxoSmithKline to either purchase Theravance’s royalty stream or potentially the entire company. Piper rates the shares at Overweight, with a $54 price target.
Target (NYSE:TGT): Susquehanna thinks that Target’s Q1 earnings may be somewhat confusing initially, but sees any issues as being transitory. Canadian earnings progression should serve as a powerful catalyst the firm says, and rates the shares at Positive with a $73 price target.
Aeropostale (NYSE:ARO): RBC Capital believes shares should be bought on weakness after the Q1 results, which it expects to be “difficult.” Despite this, the firm sees “pockets of hope” for the company, expecting the company’s merchandise to improve in 2H13 and 2014. The firm keeps a $24 price target and Outperform rating on the stock.
Investing Insights: Is Dell a Dud?