Equity Insights June 8th: Lululemon, QUALCOMM, Walter Energy, Titan Machinery, Vera Bradley
Lululemon Athletica Inc. (NASDAQ:LULU): After Lululemon provided weaker than expected Q2 EPS guidance, Oppenheimer believes that the company’s guidance is likely conservative. However, the firm reiterates a Perform rating on the stock.
QUALCOMM Incorporated (NASDAQ:QCOM): Cowen raised its estimates on Qualcomm and believes QTL licensing could be better than anticipated citing new CDMA-based connections and CDMA-based market trends. The firm said its LTE baseband advantage is playing out favorably with its expected iPhone 5 and Galaxy S lll wins. Shares are Outperform rated.
Walter Energy, Inc. (NYSE:WLT): Correction: Walter Energy not initiated today at Evercore
Titan Machinery, Inc. (NASDAQ:TITN): Craig-Hallum said the sell-off in Titan is a severe overreaction to a slight earnings miss given valuation is not stretched and demand has not softened. The firm reiterates its Buy rating and $38 price target.
Vera Bradley, Inc. (NASDAQ:VRA): After meeting with management, Piper Jaffray says it is incrementally positive on Vera Bradley’s prospects. The firm reiterates an Overweight rating on the stock with a $50 price target.
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