Apple Inc. (NASDAQ:AAPL): According to Jefferies, U.S. carriers probably will not cut iPhone subsidies, but if they did, the firm believes Apple has viable options. The firm states that although it would cause the stock price to fall $15, Apple could offer financing themselves, or it could even become a mobile virtual network operator, MVNO, for affected markets. MVNOs provide mobile services without owning the underlying network. The firm does not believe the subsidy risks are likely, and it predicts AT&T (NYSE:T) and Verizon (NYSE:VZ) will outsale its 12M in 2011’s Q4. The firm maintains a Buy rating and an $800 price target on shares of Apple.
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Micron Technology Inc.’s (NASDAQ:MU) target was reduced by Stifel Nicolaus following the comapany’s lower than expected ETS for the May quarter, but the firm sees the DRAM and NAND flash markets making a rebound. The firm keeps its Buy rating on the stock.
Celgene Corporation (NASDAQ:CELG): According to Piper Jaffray, the FDA panel recommendaton for Onyx’s (NASDAQ:ONXX) carfilzomib also entails approval for Onyx’s (NASDAQ:ONXX) Pomalidomide. Phase II efficacy was higher fomr pomalidomide without multi-organ safety concers. Piper claims that approval of pomalidomide could signal an upside to Celgene’s consensus estimates since only half of all analysts following the company predict accelerated approcal. The firm maintains its Overweight rating on the shares.
Red Hat, Inc. (NYSE:RHT): Stifel Nicolaus believes that Red Hat’s lower than expected Q1 billings was mainly a result of currency headwinds. The firm sees the company in a position to generate a minimum of 15%-20% billing growth as well as raised levels of free cash flow. The firm keeps its Buy rating on the stock.
EnCana Corp.’s (NYSE:ECA) investor day guidance shows possible increased capex while it maintains cash flow forecasts, according to Canaccord. Because the firm thinks share may be weak today, it reiterates a Hold rating.
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