American International Group (NYSE: AIG): Citigroup on Friday initiated coverage on the company with a Hold rating and a price target of $33.
Altria Group Inc. (NYSE: MO): Stifel Nicolaus upgraded its rating on the company to Buy from Hold to Buy with a price target of $29.00.
Tellabs Inc. (NASDAQ: TLAB): Kaufman Bros. initiated coverage on the company with a Hold rating and a price target of $5. In a research note to clients, the firm stated, "Our HOLD rating is based on: 1) TLAB is challenged by product transition issues; and 2) legacy infrastructure levels are declining, while growth product segments have not gained meaningful traction...As anticipated, TLAB's 2Q11 results disappointed the Street. However, international revenue was up 70% Y/Y, and a record 61% of total revenue came from growth products. That said, guidance for 3Q11 was mildly encouraging...We believe that TLAB's risk/reward profile is more likely to improve than not going forward, allowing investors to take a fresh look at the story."
STEC, Inc. (NASDAQ: STEC): Benchmark downgraded its rating on the company to hold from Buy. In a research note to clients, the firm stated, "Other storage and server OEMs will continue to desire the most cost-effective SSDs as each of these OEMs attempts to increase the attach rate of SSDs. The next big products cycles for STEC include gen IV ZeusIOPS and PCIe cards, both of which should be shipping by 2Q12. If all goes well, STEC could reclaim some market share and could become ultra competitive on a price/GB basis with alternative solutions such as SATA-based SSDs."
Full Disclosure: None.
Altria Group Inc. (NYSE: MO): Stifel Nicolaus upgraded its rating on the company to Buy from Hold to Buy with a price target of $29.00.
Tellabs Inc. (NASDAQ: TLAB): Kaufman Bros. initiated coverage on the company with a Hold rating and a price target of $5. In a research note to clients, the firm stated, "Our HOLD rating is based on: 1) TLAB is challenged by product transition issues; and 2) legacy infrastructure levels are declining, while growth product segments have not gained meaningful traction...As anticipated, TLAB's 2Q11 results disappointed the Street. However, international revenue was up 70% Y/Y, and a record 61% of total revenue came from growth products. That said, guidance for 3Q11 was mildly encouraging...We believe that TLAB's risk/reward profile is more likely to improve than not going forward, allowing investors to take a fresh look at the story."
STEC, Inc. (NASDAQ: STEC): Benchmark downgraded its rating on the company to hold from Buy. In a research note to clients, the firm stated, "Other storage and server OEMs will continue to desire the most cost-effective SSDs as each of these OEMs attempts to increase the attach rate of SSDs. The next big products cycles for STEC include gen IV ZeusIOPS and PCIe cards, both of which should be shipping by 2Q12. If all goes well, STEC could reclaim some market share and could become ultra competitive on a price/GB basis with alternative solutions such as SATA-based SSDs."
Full Disclosure: None.
