New Stock Ratings Jan. 20th: Google, Cogent, Taleo and JA Saleo
Google Inc.(NASDAQ:GOOG): Pacific Crest reduced its target on Google after the company reported weaker than expected Q4 results. The firm notes that several of the company’s key metrics came in lower than expected, and Pacific Credit is cautious on the company’s near-term outlook, but maintains an Outperform rating.
Cogent Communications Group Inc.(NASDAQ:CCOI): Cogent Communications weakness a buying opportunity, says Jefferies. DA Davidson believes the sell-off is overdone and that Magaupload is only a 3% customer. Jefferies sees no legal implication for Cogent from the shutting down of Megaupload since it understands Cogent is not the subject of the government action. Jefferies expects the business impact to Cogent to be minimal and recommends using today’s weakness in the stock as a buying opportunity. Jefferies reiterates a Buy rating and $21 price target on Cogent Communications.
Taleo Corp.(NASDAQ:TLEO): After conducting checks, ThinkEquity believes that Taleo’s billings may have slowed to their weakest levels in more than a year in Q4. The firm lowered its 2012 cash flow estimate for the company to below consensus levels and maintains a Hold rating.
JA Solar Holdings Co., Ltd.(NASDAQ:JASO): JA Solar downgraded to Sell from Neutral at Axiom Capital.
Columbia Sportswear Company(NASDAQ:COLM): Columbia Sportswear price target lowered to $50 from $57 at Credit Suisse.
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