Apple Analyst Sees $900 Ahead and 4 Stock Insights Making Rounds
Salesforce.com (NYSE:CRM): Piper Jaffray expects Salesforce.com’s transaction volume to see a boost of a minimum of 64 percent year-over-year during Q3, which is consistent with its Q2 growth rate. Piper believes that investors are probably pricing in a deceleration of the growth rate during Q3, and it thinks that the consistent growth trend is likely to bolster investors’ confidence in the company. The firm keeps its Overweight rating and a $208 target on the stock.
Apple Inc. (NASDAQ:AAPL) announced a number of management changes, influencing Piper Jaffray to think that Jon Ive will probably be with the company for the foreseeable future, relieving worries that he may leave the company. Additionally, the firm thinks that CEO Tim Cook will stay with the company for the longer term and that iOS’s future will be handled well. The firm keeps its Overweight rating and a $900 on the stock.
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Baidu, Inc. (NASDAQ:BIDU) reported in-line results for its September quarter and decided to keep its guidance, Piper Jaffray believes that the news is positive for the company, especially considering investors’ concerns regarding the macro economy and share loss to Qihoo (NYSE:QIHU). The firm keeps its positive outlook on Baidu, and it reiterates its Overweight rating and a $193 target on the stock.
Quanta Services, Inc. (NYSE:PWR): Piper Jaffray recommends purchasing Quanta Services into its Q3 results due to what it views as continued strength in natural gas infrastructure spending in North America and growth in transmission spending. The firm believes that Quanta’s recent weakness is a buying opportunity, and it keeps its Overweight rating on the stock.
Cree Inc. (NASDAQ:CREE): According to Cantor, new California regulations requiring multi-level control in non-residential spaces will cause a rise in adoption of LED lighting. The firm expects improvement for trends for LED lighting into 2013, and it keeps its Buy rating on the stock.
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