Cisco Expected to Outperform in 2013 and 3 Stock Analyses to Notice Now
Deckers Outdoor Corp. (NASDAQ:DECK): According to Piper Jaffray, its weekend channel checks showed that there were accelerated markdowns in cold-weather categories both in boots and outerwear. The firm also stated that it still sees evidence of higher markdowns of UGG boots, which influenced it to reduce its Q4 earnings estimate for Deckers Outdoor to $2.51 from $2.57. Furthermore, the firm reiterates its Neutral rating and a $35 price target on the stock.
Cisco Systems, Inc. (NASDAQ:CSCO) is expected by Goldman to outperform during 2013 as a result of earnings upside and multiple expansion. The firm keeps its Conviction Buy rating but increased its price target to $25 from $24 on the stock.
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Equinix, Inc. (NASDAQ:EQIX) is believed by Piper Jaffray to be another top performing stock during 2013 as a result of strong secular trends. Also, the firm sees upside potential to consensus estimates, and it has named the stock as s top pick for 2013. Piper gives the shares an Overweight rating with a $225 price target.
InvenSense Inc (NASDAQ:INVN) has been named by Piper Jaffray as its top small cap idea into 2013, and the firm reiterates its Overweight rating and $27 price target on the stock. The firm is convinced that the recent weakness around the CEO replacement provides a nice entry point into the name.