Equity Insights May 10th: Human Genome, Achillion Pharmaceuticals, Tesla, News Corp
Human Genome Sciences Inc. (NASDAQ:HGSI): Baird noted GlaxoSmithKline’s (NYSE:GSK) takeover bid for Human Genome (NASDAQ:HGSI) went hostile following the company’s rejection of its bid as inadequate. The firm said taking the bid directly to shareholders signals some urgency on behalf of Glaxo and with the shares already trading above the offer, signals the bid could go higher. Shares are Outperform rated with a $19 price target.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN): Baird believes this looks like a good entry point for Achillion following its Q1 update. The firm said the catalyst flow should remain robust with its pipeline intact. Shares are Outperform rated with a $15 price target.
Tesla Motors, Inc. (NASDAQ:TSLA): After Tesla increased the low end of its 2012 revenue guidance and announced that it would make its first Model S shipments several weeks earlier than expected, ThinkEquity is more confident in the company’s outlook. The firm thinks that the company is the clear leader in electric vehicle design and maintains a Buy rating.
News Corp. (NASDAQ:NWSA): Cowen said News Corp posted solid Q3 results and believes the company is on track to hit its fiscal guidance. The firm cited strong operating results across all divisions and an additional $5B to its stock buyback program. Shares are Outperform rated.
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