Stock Analysts Initiated or Reiterated Coverage of These Companies Today

Wall St. Watchdog reveals information about companies for which stock analysts either initiated coverage or reiterated coverage on September 12th.

Coverage Initiated

  • Zalicus (NASDAQ:ZLCS): Canaccord Genuity initiated coverage of this company with a rating of Buy and a price target of $3.  About the company: Zalicus Inc is a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain and immuno-inflammatory diseases. The Company’s drug pipeline includes an arthritis formula in phase 2 development.

Coverage Reiterated

  • Brunswick (NYSE:BC): RBC Capital Mkts reiterated its rating of Outperform for this company and changed its price target from $30 to $24.  About the company: Regal-Beloit Corporation manufactures a line of mechanical products that control motion and torque and electrical products such as motors and generators. The Company’s products include gearboxes, automotive transmissions, rotary cutting tools, electric motors, and electric generators. Regal-Beloit sells its products to distributors, original equipment manufacturers, and end users.
  • EV Energy (NASDAQ:EVEP): RBC Capital Mkts reiterated its rating of Outperform for this company and changed its price target from $71 to $80.  About the company: EV Energy Partner LP explores for oil and natural gas.
  • Altera (NASDAQ:ALTR): Auriga reiterated its rating of Buy for this company and changed its price target from $53 to $42.  About the company: Altera Corporation designs, manufactures, and markets programmable logic devices and associated development tools. The Company’s products, include a variety of programmable logic devices and hardcopy application-specific integrated circuits.
  • Xilinx (NASDAQ:XLNX): Auriga reiterated its rating of Buy for this company and changed its price target from $39 to $35.  About the company: Xilinx, Inc. designs, develops, and markets complete programmable logic solutions. The Company’s solutions include advanced integrated circuits, software design tools, predefined system functions delivered as cores of logic, and field engineering support. Xilinx sells its products through several channels of distribution to customers in the United States and overseas.
  • FedEx (NYSE:FDX): HSBC Securities reiterated its rating of Neutral for this company and changed its price target from $100 to $82.  About the company: FedEx Corp. delivers packages and freight to multiple countries and territories throught an integrated global network. The Company provides worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery, supply chain management services, customs brokerage services, and trade facilitation and electronic commerce solutions.
  • UPS (NYSE:UPS): HSBC Securities reiterated its rating of Overweight for this company and changed its price target from $90 to $80.  About the company: United Parcel Service, Inc. (NYSE:UPS) delivers packages and documents throughout the United States and in other countries and territories. The Company also provides global supply chain services and less-than-truckload transportation, primarily in the U.S. UPS’s business consists of integrated air and ground pick-up and delivery network.
  • Mobile TeleSystems (NYSE:MBT): HSBC Securities reiterated its rating of Overweight for this company and changed its price target from $29 to $21.  About the company: Mobile TeleSystems provides mobile telephone services in Russia and the former Soviet Union. The Company uses the GSM 900/1800 standard, operating throughout Russia and throughout Belarus, Ukraine, and Uzbekistan.
  • Concur Tech (NASDAQ:CNQR): BMO Capital Markets reiterated its rating of Market Perform for this company and changed its price target from $47 to $40.  About the company: Concur Technologies, Inc. provides workplace eCommerce software and services that extend automation to employees, partners, vendors, and service providers. The Company’s Concur eWorkplace product integrates its suite of workplace eCommerce solutions and provides a portal through which employees can access eCommerce information and services.

(Note: Data on stock holdings are sourced from Briefing.com via the Wall St. Journal.  All data are assumed to be accurate.)

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