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Triangle Petroleum Corporation (AMEX:TPLM): Canaccord believes Triangle Petroleum’s recent sell-off is overdone given strong project updates and its growth outlook. The firm views Triangle as one of its favorite ideas given its leverage to Bakken and impactful near-term catalysts. Shares are Buy rated with a $9 price target.
Fusion-IO, Inc. (NYSE:FIO): Piper Jaffray continues to believe Cisco (NASDAQ:CSCO) could emerge as a 10% customer for Fusion-io (NYSE:FIO), likely in 2013, after Fusion-io last night confirmed an OEM agreement between the two companies. Piper reiterates an Overweight rating on Fusion-io shares with a $38 price target.
Apple Inc. (NASDAQ:AAPL): Canaccord is impressed with Apple’s refreshed MacBook Pro and Air products refresh and expects the new retina display will increase Mac sales overall. Additionally, the firm is impressed with iOS6 features and said it continues to expand its ecosystem leadership vs. competitors. Shares are Buy rated.
W.W. Grainger, Inc. (NYSE:GWW): William Blair says that while Grainger’s (NYSE:GWW) May average daily sales growth of 13% missed its expectation of 13.5%, it was expecting a bigger miss following Fastenal’s (NASDAQ:FAST) weak May sales result last week. Further, the firm says it was encouraged that trends improved from April. William Blair keeps an Outperform rating on shares of Grainger and believes the company’s sales trends could accelerate towards the end of 2012.
Urban Outfitters Inc. (NASDAQ:URBN): Jefferies says Urban Outfitters disclosure that Q2 comp trends are up low-single-digits fell in-line with the firm’s expectations. Jefferies thinks the company’s Anthropologie brand remains under pressure and reiterates an Underperform rating on the stock.
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