Good morning. Here’s your daily equity research round up from the Street.
Bank of America:
Agilent (A): The company acquired Dako, a Danish cancer diagnostics firm for $2.2 billion on June 21st. The deal was completed about a month before BAML expected it, and though they are continuing to revise their forward estimates, the bank has raised its EPS estimates over the next three years, and increased its price target from $51 to $54.
Southwestern Energy Company (SWN): Citi has upgraded SWN from neutral to buy based on their overall natural gas thesis. There are less than five months until natural gas storage is “full” to start the winter. If one assumes a normal winter, it suggests a much better market for gas next year.
Comcast (CMCSA): Morgan Stanley remains positive on the stock, despite the fact that it already trades at a premium to its peers. Possible bullish factors include continuing industry leading growth for cable, and an earlier than expected turnaround for NBCU. Price target is raised to $32.
Edwards Lifesciences (EW): UBS is generally positive on Edwards, calling it “one of the best growth stories in med-tech…” However, their positive outlook and the success of of Edwards’ TAVI device are already accounted for, prompting the bank to downgrade the stock from “buy” to “neutral”. The price target is raised to $107 from $98 on higher estimates and a lower discount rate.
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