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Onyx Pharmaceuticals Inc.‘s (NASDAQ:ONXX) target has been raised by BMO Capital following an FDA panel’s recommended approval of Onyx’s carfilzomib for patients with relapsed and refractory multiple myeloma. BMO plans for the drug to be approved and released before 2012 is out, and it restates its Outperform rating on the shares.
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Red Hat, Inc. (NYSE:RHT): BMO lowered its target on Red Hat following lower than hoped May quarter billings growth reports. BMO does not expect the disappointment to affect Red Hat’s growth plans though, and it reiterates an Outperform rating. Baird announced they would purchase Red Hat on weakness due to its impressive billings growth, cash position, and a raise in the percentage of deals booked but not billed. Shares are rated Outperform with a $60 price target. Lazard Capital doesn’t see any change in Red Hat’s fundamentals after its Q1 results and is still a stock buyer on the post-earnings pullback. Lazard is sticking to a Buy rating on the stock with a $64 price target.
EPAM Systems Inc (NYSE:EPAM), Cowan’s top small-cap ITS choice given its differentiated market position, firm NT visibility, and appealing valuation, has shares rated at Outperform.
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