Go, Genesco, go
Posted on November 6, 2009 at 11:56 am
Robert W. Baird analyst Mitch Kummetz has raised his rating on the Nashville retailer to ‘outperform.’ Kummetz, who two months ago was quite sober about the company’s prospects, also has lifted his price target to $34 from $25. On a lackluster day for the market, Genesco shares (Ticker: GCO) are up more than 3 percent.
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Analysts impressed with LP
Posted on November 5, 2009 at 7:43 am
Although they rolled over late in the day like the broader market, shares of Louisiana-Pacific (Ticker: LPX) had a nice Wednesday after several analysts praised Rick Frost’s crew for their steady hand during a “sloppy” economy. D.A. Davidson analyst Steven Chercover raised his rating on the company to ‘buy’ from ‘neutral.’
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Upgrades lift Gaylord
Posted on November 4, 2009 at 10:34 am
Shares of Gaylord Entertainment (Ticker: GET) are up more than 7 percent this morning on the back of upgrades from FBR Capital Markets and Wells Fargo. The move comes after a similarly strong day yesterday, when Gaylord reported better-than-expected Q3 numbers.
FBR researcher Patrick Scholes has lifted his rating on Gaylord to ‘market perform’ from ‘underperform’ and put a price target of $17 on the stock. At Wells, analyst Jeff Donnelly said the main pricing risks to Gaylord’s business are baked into the stock, which should trade between $16 and $18 going forward.
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Time to be greedy with Psych Solutions
Posted on October 29, 2009 at 12:05 pmAvondale Partners analyst Kevin Campbell says investors should take the opportunity to buy shares of Psychiatric Solutions after their big drop Wednesday. Campbell, who has an ‘outperform’ rating on the shares, says that — despite the Q3 rise in charity care — Psych Solutions’ fundamental story is still compelling.
“[D]emand for its services remains strong and valuations remain at the bottom of its historic range. We recognize that there are valid concerns about increased levels of charity care; however, we believe the issue is manageable.”
Campbell’s lowered target of $28 is almost 50 percent above where the company opened trading this morning. Shares of Psych Solutions (Ticker: PSYS) are up about 3 percent so far today.
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Analyst action: Psych Solutions, O’Charley’s
Posted on at 7:15 amSoleil Securites’ A.J. Rice yesterday downgraded shares of Psychiatric Solutions to ‘hold’ from ‘buy’ and slashed his price target to $22 from $33. The stock (Ticker: PSYS) lost almost a quarter of its value after a disappointing Q3 report.
Over at Morgan Keegan, analyst Robert Derrington has raised O’Charley’s to ‘outperform’ from ‘market perform’ citing the stock’s valuation and management’s operational plans. The restaurant chain (Ticker: CHUX) will report its earnings this morning; the Street is looking for a loss of 10 cents per share.
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It’s not good to be called out by Dick Bove these days
Posted on October 27, 2009 at 7:31 am
That’s something investors in SunTrust and Fifth Third, Greater Nashville’s third- and fifth-largest banks, came to find out firsthand Monday, when Bove said their banks aren’t valued appropriately given the loan losses they still need to absorb. Other large regional banks active here shared in the misery, though their trading volumes were more in line with normal days.
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Analyst action: Healthways, Pinnacle, Synovus
Posted on October 26, 2009 at 12:46 pm
After Healthways’ big gain following its Q3 report, Stifel Nicolaus analyst Tom Carroll has lowered his rating on the disease manager (Ticker: HWAY) to ‘hold’ from ‘buy.’ The valuation-based call is diametrically opposed to that of Art Henderson at Jefferies, who on Friday upgraded Healthways and raised his target to $20. So far, Carroll is winning: Healthways is down 7 percent today.
At Zacks Investment Research, shares of Pinnacle Financial are now on the ‘exclusive’ list of stocks investors should sell or avoid in the coming months. Pinnacle (Ticker: PNFP) last week reported a larger-than-expected loss.
And in related regional banking news, Wunderlich analyst Kevin Reynolds has some strong words on Synovus Financial Group, the parent of The Bank of Nashville. Reynolds has dropped Synovus to a ’sell’ and slapped a price target of $1.50 on the shares — half the price at the open today. The company last week posted a loss of more than $400 million and its stock (Ticker: SNV) has fallen more than 60 percent this year.
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Tractor Supply catches its breath
Posted on October 23, 2009 at 7:33 am
A notable loser in Thursday’s stock exchange action was Tractor Supply, which lost more than 6 percent after Piper Jaffray analyst Mitch Kaiser downgraded the company to ‘underweight.’ Kaiser said the expected deflation is daunting enough to lower his 2010 EPS forecast by 6 percent.
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Lazard: CHS stands out in hospital space
Posted on October 15, 2009 at 2:13 pmInvestment firm Lazard has started covering shares of hospital operators, but isn’t terribly enthused about their prospects compared to those of companies elsewhere in the health care space. The one exception: Community Health Systems, which has made some smart acquisitions and carries no short-term debt. Shares of CHS (Ticker: CYH) are up about 1 percent today.
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A voice of caution on Tractor Supply
Posted on October 14, 2009 at 11:07 amJP Morgan has started covering shares of Tractor Supply with an ‘underweight’ rating and a target of $44, which is 17 percent below this morning’s opening price for the stock. It’s also a departure from many other analysts: About half of the almost 20 who follow Tractor Supply have ‘buy’ ratings. Shares of Tractor Supply (Ticker: TSCO) are down about 1.5 percent this morning.
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Tractor Supply has room to run
Posted on October 13, 2009 at 9:11 amArgus Research has lifted its price target for shares of Tractor Supply (Ticker: TSCO) from $52 to $62. That’s the highest number on the Street and more than 15 percent above this morning’s price.
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Analyst action: Louisiana-Pacific
Posted on October 12, 2009 at 1:52 pmJP Morgan analyst Claudia Shank Hueston has given shares of Louisiana-Pacific (Ticker: LPX) and other paper and forest product companies a boost by raising her earnings estimates. In the case of LP, Hueston said the company’s recent capital raise will improve its profit potential.
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An idea of how Wall Street will welcome Dollar General
Posted on at 7:47 am
By now, the premise has been clearly established: Value-oriented retailers — especially those with “Dollar” in their name — are doing very well during the recession. Friday’s upgrade of Family Dollar by BMO Capital Markets sums things up nicely. Get used to seeing phrases like “strong cash flow yield” as Goodlettsville-based Dollar General preps its IPO.
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Analysts rush to raise Tractor Supply targets
Posted on October 9, 2009 at 8:04 amAfter Tractor Supply came out firing yesterday about its pending third-quarter earnings, analysts at FBR Capital Markets and Wedbush Morgan lifted their price targets. FBR’s Stephen Chick now sees Tractor Supply shares (Ticker: TSCO) going to $48, Wedbush Morgan’s Joan Storms to $54. Those shares closed Thursday trading at $53 and change, their highest level in 27 months.
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UBS: Still plenty of regional bank stocks to sell
Posted on October 8, 2009 at 3:23 pmInvestment firm UBS today began covering a number of Middle Tennessee’s biggest regional banks, some with not-so-flattering ’sell’ labels on the basis of their stocks’ recent runups and continuing credit problems. Analyst Heather Wolf says investors should avoid SunTrust and Fifth Third and is neutral on shares of Regions and U.S. Bancorp.
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