Las Vegas Sands Corp. (NYSE: LVS): Brean Murray Carret & Co. initiated coverage on the company with a Buy rating and a price target of $53. In a research note to clients, the firm stated, "Given returns generated to date in Asia, the expansion underway on Cotai, and upside potential in Singapore, we believe LVS will generate strong returns for long-term investors. Although the opening of Galaxy in Cotai could negatively impact market share in the near-tern, we believe that over the longer term, LVS is among the best positioned to capture the continued growth in Cotai."
JA Solar Holdings Co., Ltd. (NASDAQ: JASO): Jefferies downgraded the company to Hold from Buy. The firm also slashed its price target to $5 from $7.
Canadian Solar Inc. (NASDAQ: CSIQ): Jefferies downgraded its rating on the stock to Hold from Buy. The firm lowered its price target on the strock to $11 from $14. The firm said that tier two suppliers like CSIQ has lack the distribution and brand to command a price premium.
Yum! Brands, Inc. (NYSE: YUM): Goldman Sachs downgraded Yum to Sell from Neutral citing China uncertainty and Taco Bell weakness. The firm sees risk to China P&L, which is 40% of profits. Goldman said China SSS may slow by the 2nd-half as they have historically tracked with China GDP, which is showing signs of slowing. Moreover, food PPI and labor inflation in China have continued to increase, which will pressure margins. The China issues come at a time when their survey indicates lingering brand damage to Taco Bell in the US.
Intuitive Surgical, Inc. (NASDAQ: ISRG): Gleacher & Co. downgraded the company to Neutral from Buy.
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