Coca-Cola Co. (NYSE:KO): Wells Fargo reduced its price target on Coca-Cola to $41-$43 from $45-$47 on the grounds that the analyst believes the beverage industry is facing weak volumes and a challenged diet segment. The firm expects the industry multiple to “rationalize” but keeps an Outperform rating on Coca-Cola’s shares.
NetApp Inc. (NASDAQ:NTAP): After meeting with NetApp’s CFO, Pacific Crest is optimistic that the company can rebound in 2014, driven by FlexPod momentum and its multi-pronged cloud strategy. Pacific Crest believes NetApp’s shares should be bought on any weakness and keeps an Outperform rating on the shares.
Cisco Systems Inc. (NASDAQ:CSCO): Pacific Crest recommends buying Cisco shares ahead of the company’s upcoming Analyst Day and the launch of its Insieme products on December 12 and November 6, respectively. After meeting with Cisco’s director of Data Center, the firm is more confident that the company can become a preferred platform to host Network Functions Virtualization software at large operators. The firm keeps an Outperform rating on the shares.
JPMorgan Chase & Co. (NYSE:JPM): After JPMorgan reported higher-than-expected earnings per share excluding items, but slightly lower than expected revenue, Wells Fargo thinks the stock will likely react positively. Wells believes that the results bode well for Goldman Sachs and Morgan Stanley, as well; the firm keeps an Outperform rating on JPMorgan.