Wednesday, April 13, 2011

Analyst Actions: BA, ALTR, ALU, SFI, SKH

Boeing (NYSE: BA): Nomura Securities this morning initiated coverage on the company with a Reduce rating and a price target of $66. In a research note to clients, the firm wrote, "While the company’s top-line growth outlook is good and we see new aircraft demand as strong, the transition from top-line growth to cash earnings is less clear. We think Boeing will have difficulty maintaining its market share and believe the market is under-appreciating the risks. We argue that the implied multiple the market is paying for Boeing’s commercial exposure (23.6x P/E) is a 40% premium to the US Commercial Aerospace sub-sector. With the continued risks associated with the 787, we think this is too high." 

Altera Corp (NASDAQ: ALTR): Auriga on Wednesday upgraded its rating on the company to Buy from Hold to Buy. The firm raised its price target on the stock to $51 from $44 a share. In a research note to clients, the firm wrote, “We raise our above consensus estimates for 2H11 and 2012 as our analysis suggests that growth will be driven by market share gains and increased service provider/industrial spending worldwide… n. We would use any Japan related weakness as a buying opportunity, as we expect ALTR to be a key beneficiary from the accelerating 3G/LTE order patterns.”

Alcatel-Lucent (NYSE: ALU): Morgan Stanley upgraded the company to Overweight from Equal-Weight.

iStar Financial (NYSE: SFI): Stifel Nicolaus upgraded its rating on the stock to Buy from Hold with a $12 price target.

Skilled Healthcare (NYSE: SKH): Citigroup lowered its rating on the company to Hold from Buy. However, the firm maintained its price target of $16.

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