HedgeFundLIVE.com –· Barron’s Big Money poll – 60% of respondents are bullish on equities. Bulls see the Dow rising 5% this year and another 2% in the first half of ’12. They see the SP500 reaching 1412 by Dec and 1446 by mid-’12.
· NKE – pos. comments; the stock could hit fresh highs in the next 18 months; price increases are likely to stick and will help offset higher input costs.
· Lenovo – positive comments; the stock could have 43% upside; it is holding its large share position in China while gaining elsewhere. Valuation is reasonable ex a huge cash hoard. The LePad could become the market’s #2 tablet after the iPad.
· OVTI – positive comments; the stock is cheap; growth prospects are strong; OVTI increasingly is becoming the industry standard for a product that is far from becoming a commodity. Sony is the market’s #2 but large OEMs like AAPL and Samsung will prefer to deal w/OVTI over a competitor.
· Reynders, McVeigh Capital Mgmt – interview in Barron’s – positive on ABB, ECA, and CREE. For CREE, there has been some disappointment w/the co’s pricing power but demand trends are very strong, esp. in general lighting.
· OMG – positive comments; investors view the stock as a great sleeper play on electric vehicle batteries. Valuation is cheap and the co has a ton of cash (although a lot of the cash is overseas and mgmt has said its priority will be o M&A).
· AONE, HEV, ALTI – Barron’s is cautious on all three companies. Says all three have their own issues, don’t make profits, and are facing rising competition. OMG is their preferred electronic vehicle play.
· TSLA – cautious comments – the stock is expensive and the business requires a ton of capital, meaning more equity sales could be possible in the future. The market is becoming crowded. An acquisition is always possible, although the price paid may not be very high.
· PLCM – article focuses on the company but doesn’t offer much investment opinion. Says demand trends in Asia are strong.
· INTC – says the stock deserves a higher PE than the current 9x.
· Treasuries – 10yr yields could fall to below 3% once QE2 comes to an end.
· US debt – while all the focus was on S&P, Egan Jones may soon downgrade the rating on US debt.
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