The following represents a hand-picked selection of notable research curated by an analyst known in some circles as "The Sith Overlord Of The Street."
RBC: Slashing LinnCo Price Target
Last week, John Ragozzino of RBC Capital Markets downgraded shares of LinnCo LLC (NASDAQ: LNCO) to Sector Perform from Outperform with a price target slashed to $5 from a previous $14.
According to Ragozzino, the company's decision to suspend distribution and dividends is a "prudent" move but a successful execution of asset sales and a delivering of the balance sheet will "take time." However, without a distribution, investor appetite will likely remain "anemic" for the foreseeable future.
JPMorgan Discusses Handbag And Watch Survey Results
Matthew Ross of JPMorgan commented on a survey he polled on 500 women aged 22 to 25 who have purchased a handbag in the past year with the following key findings:
- Coach Inc (NYSE: COH) remained the brand of choice with 21 percent of respondents calling it their favorite brand.
- Only 12 percent of respondents said that they observed "positive changes" in Coach's products over the past 12 month.
- 74 percent of respondents indicated that a $300 to $500 price tag for Coach or Michael Kors Holdings Ltd (NYSE: KORS) bags are "overpriced."
- 89 percent of respondents said they do not own a smart watch and only 21 percent said they are inclined to purchase one in the future.
JPMorgan Boosts Teva Post Allergan Deal
Chris Schott of JPMorgan upgraded shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) to Overweight from a previous Not Rated designation with a price target raised to $82 from a previous $70.
According to Schott, Teva's acquisition of Allergan PLC (NYSE: AGN)'s generic business is "transformational" and creates a "clear leading global generics platform" that will offer the opportunity for a "significant set-up" in Teva's earnings with "limited integration risk."
Canaccord: ‘Patience Is A Virtue,' Buy Whiting Petroleum
Stephen Berman of Canaccord Genuity upgraded shares of Whiting Petroleum Corp (NYSE: WLL) to Buy from Hold with an unchanged $38 price target as the stock is "very compelling" at its current level.
According to Berman, Whiting Petroleum's asset base and substantial dry powder will enable the company to ramp activity quickly and begin expanding its production once commodity prices recover.
Morgan Stanley: Mobileye's Deal With VW Could Pave The Way To Dominance
Ravi Shanker of Morgan Stanley commented that Mobileye NV (NYSE: MBLY)'s (Overweight rated, $68 price target) inclusion in Volkswagen's strategic supplier list could have the way for the company to become Volkswagen's "core vision systems supplier."
According to Shanker, Mobileye's partnership with the automaker could prove to be a "key catalyst" for the stock as becoming a major supplier to just one company is worth about $1 EPS by itself.
Citi: Mobileye, Delphi Preferred Over Competitors
Itay Michaeli of Citi also commented on Volkswagen's strategic supplier list, noting that Mobileye (Buy rated, $70 price target) and Delphi Automotive PLC (NYSE: DLPH) (Buy rated, $100 price target) were the only companies selected for under the ADAS (Advanced Driver Assistance Systems) category.
Michaeli commented the inclusion in the category is "important" as it indicates the two companies are in "better standing" versus its competitors and Volkswagen is "likely pleased" with the products. The analyst also suggested that the nomination is a "clear positive" for both companies
Morgan Stanley On AMC Networks: ‘Nothing To Fear'
Ryan Fiftal of Morgan Stanley commented that AMC Networks Inc (NASDAQ: AMCX) (Outperform rated, $94 price target) is an "outlier" in the "post Netflix age" given its "successful iconic" content (i.e Breaking Bad) that "benefits from shifting consumer behavior."
Fiftal also added that content success is "difficult to predict," but AMC's pipeline of content (i.e Fear the Walking Dead) "has enough potential tonnage" to create a favorable risk to reward profile.
Morgan Stanley: Lower Confidence In Starz
Ryan Fiftal of Morgan Stanley downgraded shares of Starz (NASDAQ: STRZA) to Equal-weight from Overweight with a price target lowered to $42 from a previous $46 as a bullish thesis was based on operating momentum improvements and M&A activity to drive the stock higher.
According to Fiftal, the company's second quarter print reduced his confidence in both drivers playing out as recent subscriber growth failed to translate to the top line. At the same time, Starz's M&A thesis is still intact but tax "frictions" are now forcing potential international buyers ‘sitting on the sidelines" until 2016.
Stifel: Diana Shipping ‘Fully Valued'
Benjamin Nolan of Stifel downgraded shares of Diana Shipping Inc. (NYSE: DSX) to Hold from Buy with a new $8 price target as shares are already trading at a 21 percent premium to its net asset value while the rest of the group is trading at a discount to their net asset values.
Nolan also cautioned that while Diana Shopping has the "strongest" balance sheet among its peers, the company's stock offer "limited additional upside" until the dry bulk market is positioned for a "more material" recovery.
Latest Ratings for AGN
| Date | Firm | Action | From | To |
|---|
| Aug 2015 | JP Morgan | Reinstates | | Overweight |
| Jul 2015 | Barclays | Maintains | | |
| Jul 2015 | Canaccord Genuity | Maintains | | Buy |
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