Analyst Alerts: Majesco, VeriFone, TOMTOM, Spirit Airlines, Chesapeake June 12th
Majesco Entertainment Co. (NASDAQ:COOL): Ascendiant Capital believes Majesco’s FY12 guidance is achievable but lowered its price target for shares to $3.00 from $3.50 following the company’s Q2 results. The firm finds the current valuation as attractive and keeps a Buy rating on the stock.
VeriFone Systems, Inc (NYSE:PAY): Deutsche Bank lowered its price target for VeriFone and reiterates a Sell rating on the stock after the company filed its 10-Q with the SEC. Deutsche cites uncertain business fundamentals, weak financial disclosures, and lack of free cash flow for its Sell rating on VeriFone.
TOMTOM NV ORD (PINK:TMOAF): Deutsche Bank believes that while TomTom’s (TMOAF) agreement with Apple (NASDAQ:AAPL) could add EUR 20M-EUR 30M of revenue per year, helping the company offset the phasing out of Google (NASDAQ:GOOG) licensing revenue, it could also adversely impact TomTom’s Consumer revenue. Deutsche says TomTom’s pact with Apple is a “double-edged sword” and keeps a Sell rating on the stock.
Spirit Airlines Incorporated (NASDAQ:SAVE): Citigroup believes the recent pullback in shares of Spirit Airlines has created an attractive entry point and reiterates a Buy rating on the stock, despite lowering its price target for shares to $27 from $30.
Chesapeake Energy Corporation (NYSE:CHK): Canaccord raised Chesapeake’s price target to reflect lower midstream capital spending. Shares are Buy rated.
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