Envivio (:ENVI) target lowered by Stifel Nicolaus after the company preannounced its revenue for its July quarter which was significantly lower than its prior guidance. The firm thinks that large projects have been slowing worldwide, and sales processes have been lengthening as the company faces increased competition. However, the firm keeps a Buy rating due to valuation.
The Chefs Warehouse, Inc (NASDAQ:CHEF) has agreed to buy Michael’s Finer Meats, causing BMO Capital to expect the deal to be accretive during FY13. The firm believes that the transaction will expand Chef’s geographical reach and product offering at a reasonable acquisition multiple. The firm keeps an Outperform rating and an $18 target on the shares.
Elan Corp. plc (NYSE:ELN) price target was reduced by Jefferies following the removal of Bapi from its model, but it reiterates a Buy rating on the stock. The firm thinks that Elam has the ability to become more strategic post its spin-off.
Intuitive Surgical, Inc. (NASDAQ:ISRG): Following meetings with Intuitive Surgical’s senior management, JMP Securities thinks that the PIVOT trial probably will not affect the treatment of high-risk diseases. The firm believes that the company’s Firefly device may show a significant positive impact upon the growth of the use of procedures for the treatment cholecystectomy. JMP Securities reiterates an Outperform rating on the stock.
Amazon.com Inc. (NASDAQ:AMZN): According to Bernstein’s expectations, Amazon.com’s gross profits and margins will keep expanding driven by third party business and Amazon Web Services. Shares have an Outperform rating.
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