Bank Sees Catalyst for P&G Stock, Cautious on H&R Block Shares, Other Price Target Increases
Procter & Gamble Co. (NYSE:PG): Morgan Stanley believes Procter & Gamble may announce cost reduction efforts at CAGNY on February 23 which could provide a catalyst for shares. Shares are Equal Weight rated.
H&R Block, Inc.(NYSE:HRB): Morgan Stanley’s checks indicate franchise volumes are below expectations. Shares are Equal Weight rated.
Cornerstone OnDemand, Inc.(NASDAQ:CSOD): Piper Jaffray said its channel checks indicate demand for Cornerstone’s platform continues to build at a steady pace. Piper expects the company to report another strong quarter and reiterates an Overweight rating on the stock with a $21 price target.
International Paper Co.(NYSE:IP): Deutsche Bank raised its price target for International Paper (NYSE:IP) after the company announced an agreement with the Department of Justice for its purchase of Temple-Inland (NYSE:TIN). The firm expects the deal to be neutral to FY12 earnings and is surprised that IP will not be forced to divest any converting assets. Deutsche keeps a Hold rating on International Paper shares.
RenaissanceRe Holdings Ltd.(NYSE:RNR): Deutsche Bank believes RenaissanceRe shares look expensive at current levels and reiterates a Sell rating on the stock. The firm did, however, raise its price target for the stock to $65 from $62.
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