Adobe Systems Inc. (NASDAQ:ADBE): After Adobe Systems reported stronger than expected fourth quarter results, RBC Capital anticipates that subscriber growth will accelerate. The firm raised their price target on the stock from $40 to $42 and maintains an Outperform rating.
CIENA Corp. (NASDAQ:CIEN): After Ciena Corp. provided lower than expected first quarter revenue guidance, RBC Capital noted that macro issues are weighing on the company’s business. However, they believe that market share gains could help enable the company to increase their margins. The firm maintains an $18 price target and Outperform rating on the shares.
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Apple Inc. (NASDAQ:AAPL): Following checks that indicate a falling iPhone build rate and mini cannibalization of the larger iPad, Chinese sources that do not expect the iPhone 5 to do as well as the iPhone 4S. UBS lowered Apple Inc.’s 2013 earnings per share estimate from $51.50 to $47, which is below consensus of $49.39. The firm maintains their Buy rating and lowers their price target from $780 to $700.
Jabil Circuit Inc. (NYSE:JBL): RBC Capital believes that Jabil Circuit Inc. is ready to report stronger than expected results for their November quarter. The firm expects the company to provide in-line guidance for their February quarter, but believes that they will benefit in 2013 from ramps in their business with Apple (NASDAQ:AAPL) as well as margin expansion. The firm maintains a $27 price target and Outperform rating on the shares.
Foot Locker, Inc. (NYSE:FL): Susquehanna believes that sales trends at Foot Locker, Inc. remain solid, noting SportScan data showing mall sales for the majority of Foot Locker’s sales were only down slightly versus overall mall sales. The firm also noted management’s commentary that same store comps were in the mid-single digits quarter to date. Susquehanna maintains their Positive rating and $41 price target.
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