Panasonic Chairman to Quit after Huge Losses and 4 Other Hot Stocks

Goldman Sachs (NYSE:GS) has been assigned a Buy rating and a price target of $175 by Guggenheim after the firm started its coverage of the investment bank. Similarly, Guggenheim commenced coverage of Morgan Stanley (NYSE:MS) with a Neutral rating and a price target of $25.

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Panasonic (NYSE:PC) chairman excepts moral responsibility for the company’s lacklustre results and will step down in June, ahead of schedule. Panasonic is likely to report an over $8 billion annual loss for the fiscal year ending this month. Company president Kazihuro Tsuga is determined to improve profitability and has announced a mid-term business plan and strategy for the subsequent fiscal year. He also assured that the company will shed unprofitable businesses, though he did not mention its TV business.

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Goldman Sachs commenced coverage on LuluLemon Athletica (NASDAQ:LULU) with a Neutral rating and a price objective of $72.00. Analyst Lindsay Drucker Mann remarked that the “disruptive” specialty retailer is in a category of its own and that it had a niche position in the growing market of women’s athletic clothing. Since Lulu is said to be in a period of transition, the analyst is keeping the stock on a neutral rating for now, though it is still impressed with the high quality growth story that is Lulu.

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LULU

Goldman Sachs restarts its coverage of Nike (NYSE:NKE) and assigns the company a Buy rating and a price objective of $70. Analyst Lindsay Drucker Mann says the company “appears to be on the verge of a multi-year growth spurt, with visibility into critical P&L drivers,” expecting 18-20 percent EPS growth.

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