Equity Insights Mar. 26th: QUALCOMM, Curis, Halliburton, Legg Mason, International Rectifier
QUALCOMM Incorporated (NASDAQ:QCOM): Morgan Stanley raised Qualcomm estimates citing LTE adoption, launch of family data plans, and 3G stability. Shares are Overweight rated.
Curis Inc. (NASDAQ:CRIS): Roth added Curis to its Focus List as a Biotech Top Pick. The firm expects Erivedge to be a significant value proposition on expected royalties from partner Roche. Shares are Buy rated with a $9 price target.
Halliburton Company (NYSE:HAL): Wells Fargo reduced its valuation range on Halliburton (NYSE:HAL) after Baker Hughes (NYSE:BHI) said that it was encountering pricing weakness in several gas basins. The firm, however, believes the u.S. fracking market will tighten in early 2013 and it maintains an Outperform rating on Halliburton.
Legg Mason Inc. (NYSE:LM): After traveling with management, Jefferies believes Legg Mason’s business trends continue to improve and that the company’s Q4 earnings should hit the upper end of the company’s 42c-52c outlook. The firm raised its price target for shares to $33 from $31 and keeps a Buy rating on the stock.
International Rectifier Corporation (NYSE:IRF): After speaking with International Rectifier’s management, JMP Securities believes the company’s bookings are improving. The firm raised its June quarter revenue and FY12 GAAP EPS estimates above consensus levels, and reiterates an Outperform rating.
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