Analysts: Sotheby’s Will Benefit from Art Trends and 3 More Research Notes to Check Out
Sotheby’s (NYSE:BID): Following a Christie’s auction on Tuesday night that set a new record for either Christie’s or Sotheby’s, Stifel believes that the auction provides evidence that “art is hot.” The firm believes that art auctions are showing sustained improvement across categories and geographies and it thinks that estimates could be revised upwards. The firm keeps a $65 price target and Buy rating on Sotheby’s.
Salesforce.com Inc. (NYSE:CRM): MKM Partners has raised its price target on Salesforce.com to $67 from $54 to better reflect sustained billings growth of 25-35 percent; the firm reiterates Salesforce.com as a top large-cap growth pick and believes premium valuation is sustainable.
EMC Corp. (NYSE:EMC): Pacific Crest says that EMC’s new product launches of Pivotal One and XtremIO should bring growth up to 9 percent in 2014l the firm believes that EMC’s growing cloud base is being overlooked by investors. Pacific notes that improving growth should drive multiple expansion and rates the shares at Outperform with a $24.25 price target.
Transocean Ltd. (NYSE:RIG): Following Transocean’s increase to its dividend, Argus thinks that the dividend hike is a negative, since the firm believes that the company’s financial position is relatively weak. The firm reiterates a near-term Hold rating on Transocean shares.
Don’t Miss: Christie, Clinton, and the 2016 Crystal Ball.