Analysts’ upgrades for Wednesday, February 1st:
ABAXIS (NASDAQ:ABAX) was upgraded by analysts at Seaport Global Securities to a buy rating.
Celgene Corporation (NASDAQ:CELG) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. The firm currently has $127.00 target price on the stock. According to Zacks, “Celgene’s fourth quarter results were disappointing, with the company missing on both the top and the bottom line. Nevertheless, Revlimid continued to outperform in the quarter on the back of market share gains and increased duration. Other key products – Pomalyst/Imnovid, Abraxane and Otezla – also performed well. Both Otezla and Pomalyst achieved blockbuster status in 2016 recording over $1 billion in sales. Meanwhile, Celgene continues to progress with its label expansion efforts and pipeline development. Label expansion of approved drugs would boost its revenues. Sales of Revlimid are expected to maintain momentum along with Otezla and Pomalyst. The company’s outlook for 2017 was encouraging. Shares of Celgene have outperformed the industry in the past one year. Estimates have gone up post Q4 results. However, Celgene is highly dependent on Revlimid for growth. Stiff competition in target markets is another concern.”
Coach (NYSE:COH) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Coach has undertaken transformational initiatives revolving around products, stores and marketing to bring itself back on the growth trajectory and emerge as a multi-brand company. These efforts have helped it to outpace the industry in the past three months amid a backdrop of tough retail environment, volatility in tourist spending and macroeconomic headwinds, and also facilitated it to post 12th straight quarter of earnings beat, when it reported second-quarter fiscal 2017 results, wherein both the top and the bottom lines grew year over year. Coach also registered positive comparable-store sales at its North American segment and witnessed healthy growth at its international operations. However, despite reporting better-than-expected results, Coach lowered its fiscal 2017 sales forecast due to recent strengthening of dollar. Nevertheless, the company continues to anticipate double-digit growth in earnings per share for the fiscal year.”
Leggett & Platt, (NYSE:LEG) was upgraded by analysts at Raymond James Financial, Inc. from a market perform rating to a strong-buy rating.
MGIC Investment Corporation (NYSE:MTG) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $12.00 price target on the stock. According to Zacks, “MGIC Investment earnings beat expectations in the fourth-quarter. New insurance written continue to improve. Shares of MGIC Investment significantly outperformed the Zacks categorized Multi line industry, since it reported better-than-expected fourth-quarter earnings. Though the company expects to write $46 billion of new insurance in 2017, insurance in force is expected to increase. This apart, the company remains focused in enhancing shareholders’ value and be a major contributor to housing finance policy. Going ahead, we expect this metric to rise further. Also, positive credit trends, low expense ratio are tailwinds. Moreover, an improving housing market and declining delinquency will boost the company’s earnings in the coming quarters. However, a competitive environment and pressure to maintain capital at required level will reduce the company’s capital flexibility.”
Richmont Mines (ARCA:RIC) was upgraded by analysts at CIBC from a neutral rating to an outperform rating.
Synergy Resources Corp (NASDAQ:SYRG) was upgraded by analysts at Seaport Global Securities to a buy rating.
TriMas Corp (NYSE:TRS) was upgraded by analysts at Seaport Global Securities to a buy rating.
Volvo Ab (OTCMKTS:VLVLY) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “Volvo AB is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. It also develops, manufactures and markets equipment for construction and related industries, including wheel and backhoe loaders, hydraulic wheeled and crawler excavators, articulated and rigid haulers, compactors, pavers, pipe layers, road machinery under the brand names of Volvo, SDLG and Terex Trucks. The Company offers repair and maintenance, lease financing, insurance and financial services. It operates primarily in Europe, North America, South America, Asia, and internationally. Volvo AB is headquartered in Gothenburg, Sweden. “
21Vianet Group (NASDAQ:VNET) was upgraded by analysts at Zacks Investment Research from a sell rating to a hold rating. According to Zacks, “21Vianet Group, Inc. operates as a carrier-neutral Internet data center services provider in China. It provides hosting and related services, managed network services and cloud computing infrastructure. The Company’s infrastructure is interconnected with the networks operated by all of China’s telecommunications carriers, major non-carriers and local Internet service providers, or ISPs. 21Vianet Group, Incorporation. Its customers include Internet companies, government entities, blue-chip enterprises, and small-to mid-sized enterprises. 21Vianet Group, Inc. is headquartered in Beijing, the Peoples’ Republic of China. “
Western Gas Partners, (NYSE:WES) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. They currently have $68.00 price target on the stock. According to Zacks, “WESTERN GAS PARTNERS is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. “
Westlake Chemical Partners (NYSE:WLKP) was upgraded by analysts at Zacks Investment Research from a hold rating to a buy rating. Zacks Investment Research currently has $28.00 price target on the stock. According to Zacks, “Westlake Chemical Partners LP is a manufacturer and supplier of petrochemicals, vinyls, polymers and building products. It focuses on offering ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen. Its offerings are used for a wide variety of consumer and industrial products, including food packaging, automotive products, coatings, pipes and residential construction materials. Westlake Chemical Partners LP is headquartered in Houston, Texas. “