Analyst Alerts: Wells Fargo, Salesforce.com, Lexington Realty, Dick’s Sporting, Best Buy May 30th

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Wells Fargo & Company (NYSE:WFC): FBR removed Wells Fargo (NYSE:WFC) from its Top Picks list after adding of PHH Corporation (NYSE:PHH) to the list. However, the firm keeps an Outperform rating on Wells Fargo shares.

Salesforce.com (NYSE:CRM): After AllThings Digital reported that Salesforce.com was close to a deal to acquire Buddy Media for more than $800M, JMP Securities thinks that the purchase price is “quite expensive.” However, the firm thinks that Buddy would make Salesforce the leader in social marketing. The firm maintains a $170 target and Outperform rating on Salesforce.com.

Lexington Realty Trust (NYSE:LXP): FBR Capital said the sell-off in shares of Lexington Realty over the last two weeks is overdone and the firm would use down-drafts to step into or add to a position. FBR thinks market fears regarding Lexington Realty lease rolls are exaggerated and reiterates an Outperform rating on the stock.

Dick’s Sporting Goods Inc. (NYSE:DKS): Goldman believes Dick’s Sporting Goods online exposure is manageable given controlled distribution by vendors and extensive vendor collaboration. The firm adds that its robust loyalty database is starting to drive direct targeted marketing. Shares are Conviction Buy rated.

Best Buy Co. Inc. (NYSE:BBY): After meeting with Best Buy’s VP, IR, Stifel Nicolaus believes that the company will develop a plan that’s more focused on returns rather than growth. The firm believes that the company’s interim CEO wants the job on a permanent basis and is focused on developing a meaningful long-term plan that will be approved by the board. The firm maintains a $35 target and Buy rating on the stock.

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