Analysts: Qualcomm Guidance Not as Bad as Initially Feared and 3 More Research Notes to Browse
Qualcomm Corp. (NASDAQ:QCOM): After Qualcomm provided lower-than-expected revenue guidance for its December quarter and fiscal year 2014, Bernstein believes the blunders were partially caused by the sale of the company’s Omnitracs unit and the pull-in of MSM chipset sales into the third quarter. The firm keeps an $80 price target and Outperform rating on Qualcomm stock.
Energizer Holdings Inc. (NYSE:ENR): Morgan Stanley upgraded Energizer to Overweight from Equal Weight; the firm upgraded shares due to strong earnings visibility driven by the Johnson & Johnson feminine hygiene brands acquisition, cost savings, and potential buybacks. The firm’s price target for Energizer stock is $117.
ImmunoGen Inc. (NASDAQ:IMGN): Morgan Stanley downgraded ImmunoGen to Underweight from Equal Weight; the firm downgraded shares due to the IMGN901 failure as well as an increased risk profile. The firm’s price target for ImmunoGen stock is $9.50.
Covidien PLC (NYSE:COV): Covidien reported in-line fourth-quarter results, but its shares fell due to lower-than-expected operating margins, leading RBC Capital to believe that the key operating margin headwinds facing the company should ease in the second half of the fiscal year 2014; nonetheless, the firm keeps a Sector Perform rating on Covidien stock.