Robert W. Baird upgraded shares of Hub Group, Inc. (NASDAQ: HUBG) from a neutral rating to an outperform rating. Robert W. Baird now has a $38.00 price target on the stock.
Macquarie downgraded shares of IAMGOLD Corp (NYSE: IAG) from an outperform rating to a neutral rating.
SunTrust upgraded shares of ICF International, Inc. (NASDAQ: ICFI) from a neutral rating to a buy rating.
Nomura gave shares of J.C. Penney Company, Inc. (NYSE: JCP) a new $18.00 price target. They now have a neutral rating on the stock. They wrote, "Despite weak financial results, JCP is moving forward with its transformational strategy, albeit with some mid-course corrections. The hope is that as more shops are constructed, the company will gain more traction with customers. Based on our current estimates, which forecast a loss of $370MM in the first three qtrs of F13, JCP may need to draw on its revolver during the peak borrowing period (3Q). Although the company has plenty of capacity ($1.5BN), the need to borrow would not be a good signal to the market."
JPMorgan Chase downgraded shares of J.C. Penney Company, Inc. (NYSE: JCP) from an overweight rating to a neutral rating. Their analysts now have a $20.00 price target on the stock, down previously from $30.00. They wrote, "We are downgrading JCPenney to Neutral from Overweight based on (1) more questions than answers on the long-term pricing/promotional structure (incentives, NOW Pricing, MSRP), (2) balance sheet composition increasingly unclear (WC vs. non-core asset sale drivers), and (3) lack of earnings support for potentially another year (JPM modeling $0.00 EPS in FY13 w/ risk if sales do not materialize)."
Nomura gave shares of Michael Kors Holdings Ltd (NASDAQ: KORS) a new $58.00 price target. They wrote, "FQ2 was another very strong quarter, w/ sales/EPS well above guidance. For FQ3, mgmt guided to mid-20s comp increase and EPS slightly below consensus, but we expect KOR to exceed guidance. Our F13E EPS goes from $1.51 to $1.61, F14E from $1.87 to $2.00. KORS has best momentum in our retail coverage. PT raised to $58, representing 29.1x our F14E EPS and 18.3x our F14E EBITDA, roughly equal to LULU multiples, although we expect KORS to grow sales/EPS at faster rate."
Oppenheimer raised its price target on shares of Lowe`s (LOW) from $32.00 to $42.00. They have an outperform rating on the stock. They wrote, "We have for some time looked favorably on the potential for a US housing market recovery and hence better demand trends within the Home Improvement sector. Data suggest that our thesis is playing out well. We are increasingly of the view that Lowe`s is likely to make for the better stock in 2013. An aggressive re-merchandising effort and a string of internal missteps have weighed on LOW results over the past several quarters. We are optimistic that with improving demand trends at its back, LOW is now approaching a positive fundamental turn. LOW shares have significantly underperformed those of Home Depot since late 2010. Our price target for LOW goes to $42 from $32 previously."
Canaccord Genuity downgraded shares of The Mosaic Company (MOS) from a buy rating to a hold rating. Their analysts now have a $55.00 price target on the stock, down previously from $65.00.
Imperial Capital initiated coverage on shares of Marathon Petroleum (MPC). They issued an outperform rating on the stock and set a $64.00 price target.
UBS AG reiterated its neutral rating on shares of Marvell Technology Group (MRVL). They have a $9.00 price target on the stock.
Capital One downgraded shares of Northern Oil & Gas, Inc. (NOG) to a neutral rating.
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