T-Mobile Picks Up Momentum and 3 Other Research Notes to Check Out
T-Mobile (NYSE:TMUS): After conducting checks, Wells Fargo believes the gross and net momentum T-Mobile experienced in the second quarter of 2013 has continued into the third quarter. The firm thinks the company is benefiting from a lack of aggressive marketing by Sprint (NYSE:S) this quarter, and it keeps a Market Perform rating on T-Mobile.
Broadcom (NASDAQ:BRCM): After Broadcom agreed to acquire LTE-related assets from Renesas, Cowen thinks the deal could increase Broadcom’s LTE revenue by about $300 million in 2014. The firm lowered its 2013 fourth-quarter and 2014 earnings per share estimates for Broadcom to reflect dilution from the deal, but it sees the transaction as a medium-term positive for the company. It lowered its price target on shares to $33 from $37 but keeps an Outperform rating on the stock.
Bed Bath & Beyond (NASDAQ:BBBY): Morgan Stanley expects Bed Bath & Beyond to report second-quarter comps and earnings below consensus due to increasing couponing to compete with competition from department stores and Amazon.com (NASDAQ:AMZN). The shares are rated Underweight with a $61 price target.
Perrigo (NASDAQ:PRGO): JPMorgan views the recent selloff in shares of Perrigo as an attractive buying opportunity and reiterates an Overweight rating on the name with a $50 price target. The firm believes the company’s core business outlook has not significantly changed and that a sum-of-parts analysis suggests significant opportunity.