Good morning. Here’s your daily equity research round up from the Street.Citi:
Agilent Technologies (A): Citi initiated coverage of Agilent with a buy rating and a $46 price target. Citi expects the company to outperform the market due to margin expansion, good cash management, emerging market exposure, and its shift in focus to the life sciences. The bank expects future revenue to grow at a 5-6 per cent rate.
Building and Building Products: DB came away from its 2012 Global Industrials Conference with a positive outlook for builders. Attendees described the spring selling season as the best in years, and feel that trends remain strong despite macro headwinds. Firms are starting to see the benefit of an increase in construction. Job growth and material cost inflation are the principal threats.
V.F. Corporation (VF): Morgan Stanley likes what it is seeing from the maker of Vans given the strength of the brand, potential for geographic expansion, and its product innovation. Analyst Joseph Parkhill describes the company as diversified, high growth, and unique. The overweight rating is maintained with a price target of $180.
The Kroger Co. (KR): Kroger had the best sales growth among traditional food retailers last quarter. The bank thinks Kroger is moving in the right direction by continuing to pursue market share with lower mark ups. UBS expects Kroger to grow faster than its industry rivals, and analyst Jason DeRise raises his EPS estimate by 1.5 per cent and his price target to $24.
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