Analysts: Study Results Remove Celgene Overhang and 3 More Research Notes to Check Out
Celgene (NASDAQ:CELG): Deutsche Bank believes MM-020 study results for Revlimid in newly diagnosed multiple myeloma removes an overhang on shares of Celgene, and with the data, Celgene can now file for approval in Europe. The firm says shares could be up 10 percent on Thursday’s news and reiterates a Buy rating on the stock with a $143 price target.
Pandora (NYSE:P): Needham says the 14 percent pullback since Monday in shares is due to slowing listener hour growth and anticipated streaming competition from Apple (NASDAQ:AAPL), but the firm believes Pandora is purposely slowing listener hour growth to maximize profitability and recommends using the sell-off as a buying opportunity. Needham keeps a Buy rating on the name with a $20 price target.
International Business Machines Corp. (NYSE:IBM): UBS believes that IBM’s consensus quarterly revenue estimate of $25.36 is at risk due to the weak macro environment and soft emerging market demand, currently impact, and checks that indicate some hardware weakness. However, the firm still views IBM as a winner in big data and cloud and maintains its Buy rating and $235 price target.
IMAX (NASDAQ:IMAX): Movie data from the first half of the year in China indicates that Hollywood movie sales rose significantly in the country in the second quarter, increasing B. Riley’s confidence in its above consensus second quarter estimates for IMAX. It keeps a $37 price target and Buy rating on the stock.