Analyst Lowers Arena Target and 4 Stock Analyses Sparking Chatter
CGI Group, Inc. (NYSE:GIB): After CGI Group, Inc.’s stock fell 5% yesterday, RBC Capital views the decline as an overreaction to Logica’s “soft” June quarter results. The firm anticipates that CGI’s 25-30% earnings per share accretion guidance remains achievable and RBC maintains an Outperform rating on their shares.
TW Telecom Inc. (NASDAQ:TWTC): Following in line third quarter results, Cowen said the TW Telecom Inc. story remains intact. The firm noted that management called themselves an attractive takeover target, but would not specifically comment on potential M&A. Cowen also cited the company’s record quarter and strong bookings in October. Shares are Outperform rated.
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VirnetX Holding Corp. (AMEX:VHC): William Blair noted that a federal jury in Texas gave a favorable ruling to VirnetX Holding Corp. in their case against Apple (NASDAQ:AAPL), and ordered Apple to pay $368 million for past infringement. William Blair said that while the award is roughly half of the amount VirnetX was seeking, it looks good for future royalty rates and more importantly, affirms the strength of VirnetX’s patents. The firm maintains an Outperform rating on company.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA): Following disappointing sales for competitor Qsymia, Jefferies lowered their price target for Arena Pharmaceuticals, citing moderated launch expectations for Belviq Monotherapy. The firm, however, keeps a Buy rating on their stock following the company’s third quarter results.
American Assets Trust, Inc (NYSE:AAT): After American Assets Trust, Inc. reported higher than expected third quarter earnings, JMP Securities is still impressed by the company’s fundamentals and finds the stock’s valuation attractive. They maintain a $28 target and Buy rating on their shares.