Citi Keeps Buy on Sirius Stock, Piper Jaffray Ups Zynga Price Target, Bank Sees Accenture at $71
SIRIUS XM Radio Inc. (NASDAQ:SIRI): Citigroup sees upside in Sirius XM shares from the company’s significant ramp in free cash. The firm believes the company’s FY12 net adds could finish above management’s guidance of 1.3M despite an increase in churn from 1.9% in FY11 to 2.1% in FY12. Citi keeps a Buy rating on Sirius XM shares.
Zynga (NASDAQ:ZNGA): Piper Jaffray raised its price target for Zynga following the company’s Q4 results and reiterates an Overweight rating on the stock.
Regions Financial Corp. (NYSE:RF): Deutsche Bank believes Regions Financial may need to raise $700M of capital to repay TARP funds, below its previous estimate of $1B. The lower capital estimate boosts the firm’s 2013 EPS estimate for Regions Financial to 80c from 75c and price target for shares to $6.50 from $6. Deutsche maintains a Buy rating on Regions Financial shares.
Accenture plc (NYSE:ACN): Deutsche Bank believes Accenture could raise guidance when it reports Q2 results on March 22 after its channel checks indicated the company’s fundamentals remain strong. The firm reiterates a Buy rating on the stock with a $71 price target.
Avago Technologies Limited (NASDAQ:AVGO): Citigroup believes Avago can earn $4.00 or above earnings per share in 2014 and continues to view the stock as a core holding. The firm raised its price target for shares and recommends using pullbacks as a buying opportunity.
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