Analyst Alerts: JPMorgan, QUALCOMM, Apple, OpenTable, InterMune May 21st
JPMorgan Chase & Co. (NYSE:JPM): Citigroup added JPMorgan to its Top Picks Live list and maintains a Buy rating on the stock with a $45 price target. Citi believes investor concerns are at extreme levels following JPMorgan’s $2B trading loss, and finds the stock attractively valued at current levels.
QUALCOMM Incorporated (NASDAQ:QCOM): Following channel checks, Piper Jaffray said it remains confident that Qualcomm will resolve its 28nm supply issue this year. However, the firm thinks Qualcomm could have a margin issue as 28nm ramps since TSMC is increasing the wafer price as it is the company’s only source for 28nm capacity. As such, Piper sees limited near-term upside to Qualcomm estimates, but keeps an Overweight rating on the stock.
Apple Inc. (NASDAQ:AAPL): Piper Jaffray continues to expect Apple to launch its iPhone 5 in October despite the 28nm chip shortage at Qualcomm (NASDAQ:QCOM). Piper sees the worst case scenario as Apple being unable to meet demand in the short-term following the launch, meaning sales would shift from the December quarter into the March quarter. The firm reiterates an Overweight rating on Apple shares with a $910 price target.
OpenTable, Inc. (NASDAQ:OPEN): Benchmark Co. views Livebookings as a sizeable international competitor for OpenTable, but feels OpenTable is well positioned in the UK. The firm says the sizeable competitor in Europe presents a challenge to OpenTable not existing in North America, but maintains a Buy rating on the stock with a $45 price target.
InterMune Inc. (NASDAQ:ITMN): Leerink says negative interim results of a study of the triple regimen of prednisone, azathioprine, and N-acetylcysteine in idiopathic pulmonary fibrosis patients were published today in the Online First issue of the New England Journal of Medicine. Leerink views the results as an incremental positive for InterMune’s Esbriet since they could increase awareness and possibly accelerate the discontinuation of the use of the triple regimen.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.