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Marvell Technology Group Ltd. (NASDAQ:MRVL) lowered its Q3 revenue guidance and announced the resignation of its CFO, and DA Davidson was disappointed by the news but still believes that there is value in what it refers to as the company’s impressive cash flow and commanding market share. The firm keeps its Buy rating but lowered its target to $12 from $15 on the stock.
Chipotle Mexican Grill, Inc. (NYSE:CMG): According to Baird, it would use weakness in Chipotle to buy the share aggressively since it believes that Q3 results were missed because of a variance on new-store contributions, not fundamental issues. The firm stated that the company’s earnings report contains various positives such as healthy same store traffic, healthy balance sheet, and reassuring management commentary. Shares have an Outperform rating and price target of $460.
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Sirona Dental Systems Inc. (NASDAQ:SIRO) continues to be one of Baird’s top Dental ideas after there was an update to its CAD/CAM pricing strategies. The firm thinks that the story has been de-risked and states that they would be buyers on recent weakness. The firm keeps its Outperform rating and raises its price target to $63 from $59 on the stock.
Riverbed Technology, Inc. (NASDAQ:RVBD) target has been raised by JMP Securities after the company reported stronger than expected results for Q3. The firm keeps its Outperform rating and a $27 price target on the stock. Additionally, Baird raised its price target on Riverbed after the company showed satisfying Q3 results due to solid Federal business, a rebound in Enterprise software, and in-line Q4 guidance despite management assertion of a strong product portfolio. Baird gives the shares an Outperform rating.
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