Akamai Expected to Report Strong Q3 Results and 4 Stock Analyses to Watch
Group 1 Automotive Inc. (NYSE:GPI) is expected by Stifel Nicolaus to see benefits from a number of trends, which includes recent U.S. sales performance, higher discretionary intent relative to lower vehicle breakdowns, and stronger Japanese import sales. The firm believes that Group 1 continues to have a high level of exposure to U.S. regions with auto sales that are outperforming, and Stifel keeps its Buy rating on the stock.
Safeway Inc. (NYSE:SWY): According to Goldman, shares of Safeway continue to be at a trough and short interest remains at its highest. The firm thinks that muted results and low expectations may cause a short-squeeze. Shares have a Sell rating given weak long-term fundamentals.
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Select Comfort Corporation (NASDAQ:SCSS) business is believed by Stifel Nicolaus to continue to be “quite strong,” and the firm believes that the sector will see benefits from the housing recovery. Stifel believes that the company will post strong results in the near-term, and it keeps its Buy rating.
Lam Research Corporation (NASDAQ:LRCX) is expected by Needham to meet its Q1 consensus estimates when it reports on next Wednesday, October 17, but the firm believes that the company’s Q2 outlook may be weaker than expected because of push-outs of Samsung Austin along with no recovery in memory spending. The firm views the downside as being largely expected, and it maintains its Buy rating and reduces its price target to $38 from $42 on the stock.
Akamai Technologies Inc. (NASDAQ:AKAM) is believed by Pacific Crest to have the ability to report stronger Q3 results than expected, driven by accelerated media traffic in August and September. The firm believes that the company will give strong Q4 guidance, but it keeps its Sector Perform rating on the stock.