Stock Insights: BioMarin Pharma, Accretive Health, Cirrus Logic, F5 Networks, Fresh Market May 31st
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN): Baird noted BioMarin sold 6.5M shares in a capital raise today and said the shares should be bought on today’s weakness. The firm believes the deal helps the company’s balance sheet, is minimally dilutive to earnings, and in light of the macro environment the timing of the deal was good. Shares are Outperform rated with a $40 price target.
Accretive Health, Inc. (NYSE:AH): After attending Senator Franken’s hearing on the Minnesota Attorney General’s charges against Accretive Health, Oppenheimer is more comfortable that the more egregious charges of illegal acts by the company are baseless. The firm thinks that the lack of new evidence indicates that the worst headline risk has passed and it maintains an Outperform rating on the stock.
Cirrus Logic Inc. (NASDAQ:CRUS): Capstone raised Cirrus Logic’s price target given near-term visibility and its growth opportunity. The firm believes audio DSP offers Cirrus Logic higher levels of integration and could be customized to serve potential new mobile customers without the need to build new hardware. The firm said two potential new offerings are the iPad-mini, iPhone 5, Apple TV, and non-Apple smartphone OEMs. Shares are Buy rated.
F5 Networks, Inc. (NASDAQ:FFIV): Piper Jaffray believes trends for F5 Networks remain good, but says the departure of Mark Anderson does increase the risk to near-term sales execution. However, Piper believes near-term risk is already priced into shares and would use any material sell-off in the stock as a buying opportunity.
The Fresh Market, Inc. (NASDAQ:TFM): BMO Capital increased its target on The Fresh Market after the company reported higher than expected Q1 EPS. However, the firm expects the stock’s valuation to remain unchanged from current levels and it maintains a Market Perform rating on the stock.
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