Analysts: Share Buyout Will Provide Cash Flow For Nokia and 3 More Research Notes to Explore
Nokia (NYSE:NOK): Following Nokia’s announcement to buy out Siemens’s (NYSE:SI) interest in the Nokia Siemens joint venture, Argus expects the business to perform more effectively under the new ownership structure. The firm adds that the business will be a stable, strong cash flow source for Nokia, and it keeps a Buy rating on the stock.
Tangoe (NASDAQ:TNGO): Wunderlich believes Tangoe’s Q2 results are likely to outperform expectations, and therefore providing a near-term catalyst for shares. Further, the firm expects the company’s customer wins to climb steadily, resulting in accelerating organic growth in the second half of 2013. Wunderlich recommends buying Tangoe shares aggressively below $20 and reiterates a Buy rating on the stock with a $30 price target.
Kinross Gold (NYSE:KGC): Jefferies downgraded Kinross Gold to Underperform from Hold, and lowered its price target for shares to $3.75 from $5.50, after lowering its gold price forecast to $1,250 from $1,500. The firm believes that gold stocks have further downside.
Energy XXI (NASDAQ:EXXI): Susquehanna has lowered it price target on the company to $30 from $37, after its report of two dry holes while looking for onshore gas. However, the firm maintains its Positive rating based on the long term ultra deep gas optionality, potential for stock buybacks, and possible deal flow.