Merck and AstraZeneca AMEND Agreement and 4 SIZZLING Stock Insights

SBA Communications Corp. (NASDAQ:SBAC) price target was raised by Canaccord because of its recent acquisition of TowerCo assets, as well as unit tower cash flow and leas ups improvements. The firm gives a Buy rating on the shares.

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Cubic Corporation (NYSE:CUB): According to Benchmark Co. Cubic founder and CEO Walter Zable’s death will probably push the company into issuing another offering as a way to diversify the family holding as well as increase the stock’s visibility and float. The firm still sees Cubic as an attractive defense industry consolidation takeover target. The firm maintains a Buy rating on the stock.

Merck & Co. Inc. (NYSE:MRK) and AstraZeneca (NYSE:AZN) have amended the option agreement related to their AstraZeneca LP partnership. The new agreement does not allow AstraZeneca to use its option to acquire any of Merck’s leftover interest in AZLP in 2012, and it also offers AstraZeneca a new option for the acquisition of Merck’s partnership interest in 2014. Because of this, Merck continues recording supply sales and the partnership’s equity income for the rest of 2012 and 2013. 2014 will allow AtraZeneca the option to purchase any remaining AZLP interest due to a calculation which was agreed upon for Merck’s Prilosec and Nexium interest. The fixed sum for this interest is $327M. This partnership could contribute nearly $200M to Merck’s revenues and about 3c-5c in earnings per share to Merck in 2012. This does not change 2012’s prior full-year guidance for Merck.

Robbins & Myers Inc. (NYSE:RBN) reported high Q3 EPS but low Q4 EPS guidance, causing Stifel Nicolaus to believe that, at current levels, the company is undervalued. The firm reiterates its Buy rating but lowers the price target from $62 to $55 on shares.

Zynga (NASDAQ:ZNGA) made no progress in speaking about its key investor concerns at yesterday’s event, according to Piper Jaffray, but the firm sees the stock as currently undervalued. The firm maintains an Overweight rating but drops its price target on the shares.

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