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Good morning. Here’s your daily equity research roundup form the Street.Wells Fargo:
- Aeropostale (ARO): Analyst Evren Kopelman is upgrading ARO to Market Perform after the company raised 2012/2013 EPS estimates to $1.28/$1.53 from $1.22/1.48, citing improving business trends and better topline revenue growth.
- Eaton Vance (EV): Analyst William Katz is upgrading EV to Neutral from Sell but is concurrently lowering his target price to $23.50 from $24. He says that “it is tough to bet bullish on EV following uneven F2Q12,” but that “idiosnycratic downside is less compelling” after the selloff the stock has seen in recent months.
- BlackRock (BLK): Katz is keeping BLK at neutral but is lowering his price target to $180 from $201, “with the reduction about evenly split between reduced EPS Estimates and lower sector multiples,” the former due to a recent 6.4 million share repurchase.
- Newmont Mining Corp (NEM): Analyst Peter Ward is lowering the price target on NEM to $46 from $49 to reflect further de-rating in gold equity multiples while keeping a Hold rating on the stock.
- Suntech Power (STP): Analyst Jesse Pichel is lowering the price target on STP to $1.50 from $2 to reflect $69MM worth of charges taken in the first quarter. Pichel maintains a Hold rating on the stock.
- Green Dot Corporation (GDOT): Analyst Glenn Fodor is downgrading GDOT to Equal-weight from Overweight and lowering the price target on the stock from $60 to $25, citing “a less certain growth trajectory, impending margin pressure and ongoing regulatory and competitive uncertainties.” However, he also notes that GDOT should continue to be the leader in the prepaid space.
- Duke Energy (DUK): Analyst Jim von Riesemann is upgrading Duke Energy to Buy from Neutral and raising the price target on the stock to $24 from $22, citing an imminent favourable decision on its merger with Progress Energy (Riesemann notes that “the first two of three key regulatory rulings are due by Friday from Federal regulators”).
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