Nvidia Corp. (NASDAQ:NVDA): Pacific Crest believes that some semiconductor companies will be forced to reassess their position in the wireless industry over the next one to two years given the weak sector dynamics; the firm thinks Nvidia’s stock could rise 20 percent if the company terminates its wireless business, while Broadcom Corp.’s (NASDAQ:BRCM) shares could surge 50 percent-plus if it exits its baseband wireless business.
EMC Corp. (NYSE:EMC): Pacific Crest believes EMC’s fundamentals improved in the third quarter, but the firm expects the stock’s performance to be “choppy” in the near-term. Nevertheless, the firm thinks the company could benefit from share gains next year and it recommends buying EMC stock on weakness and owning the shares into 2014; Pacific Crest keeps an Outperform rating on the shares.
Kellogg Co. (NYSE:K): Bank of America Merrill Lynch downgraded Kellogg two notches, to Underperform from Buy; the firm predicts a risk to revenues and a limited earnings upside, and expects shares to underperform the group; the analyst lowered the price target on Kellogg shares to $62 from $69.
Tyson Foods Inc. (NYSE:TSN): KeyBanc believes that Friday’s weakness in Tyson Foods’s stock represents a buying opportunity for longer-term investors; the firm sees the recent decline in leg quarter pricing as a temporary issue and believes industry margins will remain above normal levels into next year. The firm reiterates a Buy rating on Tyson Foods.