Elan Corp. plc (NYSE:ELN) announced spin-off is viewed by Jefferies as extremely compelling, and the firm thinks it will boost the profitability of Tysabri. Jefferies believes that many will view the announcement as the first step closer to making the company more appealing for a takeover by Biogen (NASDAQ:BIIB).
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Summit Hotel Properties Inc (NYSE:INN): Baird stated that Summit Hotel Properties’s valuation is still compelling due to its improving fundamentals and its potential for the acquisition of additional high yielding assets. The firm believes that momentum is increasing, and its growth story remains intact. Shares have an Outperform rating and a $12 price target.
Marriott International, Inc. (NYSE:MAR): Following a meeting with Marriott’s CEO, Wells Fargo thinks that that the company should be able to sustain its mid-teen average annual total returns over the long term. The firm reiterates its Outperform rating on the stock.
Cisco Systems, Inc. (NASDAQ:CSCO) estimates were reduced by FBR Capital following channel checks which indicated that the company’s Q4 sales are tracking to the lower end of management’s guided 2 percent to 5 percent year-over-year growth. FBR predicts that Cisco’s Q4 results will be in-line or slightly below consensus and management’s guide. The firm maintains a Market Perform rating on the stock into the company’s results on Wednesday.
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) price target has been raised by DA Davidson because of the recent rebound in U.S. ferrous scrap prices. On the other hand, the firm questions if this trend is sustainable, and it keeps its Neutral rating on the stock.
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