Equity Insights June 12th: American Campus, Estee Lauder, AMD, Texas Instruments, Corning
American Campus Communities Inc. (NYSE:ACC): Baird said they would be buyers today on any weakness of American Campus following its leasing update for the upcoming academic year which showed the leasing gap over last year has not closed. The firm thinks given its premium valuation it could sell off but they believe management’s track record should erase any doubt about strategy. Shares are Outperform rated with a $49 price target.
Estee Lauder Companies Inc. (NYSE:EL): Atlantic Equities believes weakness in Estee Lauder is a buying opportunity given its double digit growth and operating leverage from recent SAP and IT installations. Shares are Overweight rated with a $68 price target.
Advanced Micro Devices, Inc. (NYSE:AMD): Jefferies says benchmarks for AMD’s next generation integrated processor, Trinity, support its belief that the company will gain market share and see higher margins. The firm also thinks Windows 8 could be a catalyst in the second half of 2012 for AMD. Jefferies views the recent weakness in a stock as a buying opportunity and maintains a Buy rating on AMD with an $11 price target.
Texas Instruments Inc. (NYSE:TXN): UBS lowered Texas Instruments estimates citing concerns regarding the weakening demand environment. Shares are Neutral rated.
Corning Inc. (NYSE:GLW): After evaluating data points from Nippon Electric Glass, Sterne Agee believes that the data is on balance favorable to Corning. The firm maintains an $18 target and Buy rating on Corning.
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