Stock Insights: Research In Motion, Altera, Impax Laboratories, Towers Watson, Teekay March 30
Research In Motion Limited (NASDAQ:RIMM): Canaccord lowered Research in Motions estimates given weak BB7 sales and increased competition. Shares are Hold rated.
Altera Corp. (NASDAQ:ALTR): Canaccord raised Altera (NASDAQ:ALTR) and Xilinx (NASDAQ:XLNX) following checks that indicate a pick up in FPGA related orders in Q2. Orders to FPGA contractors are up 10%-15% above Q1 levels vs. normal mid-single-digit growth. The firm raised estimates but remains Hold rated on both Altera and Xilinx due to lack of margin leverage.
Impax Laboratories Inc. (NASDAQ:IPXL): Canaccord recommends buying Impax ahead of upcoming catalysts that include citing a potential settlement with Shire (NASDAQ:SHPGY) on Adderall XR, remediation of the FDA manufacturing warning letter, and the October IPX-066 PDUFA. Shares are Buy rated with a $29 price target.
Towers Watson & Co. (NYSE:TW): After meeting with Towers Watson’s management, William Blair believes the company is benefiting from improving demand trends and market share gains.The firm thinks that the stock’s valuation is attractive, and it maintains an Outperform rating on the shares.
Teekay Corporation (NYSE:TK): After meeting with Teekay’s management, Wells Fargo continues to believe that the company is significantly undervalued. The firm thinks that the company will likely raise its dividend in 2013 and may increase its share buybacks in the second half of this year. The firm maintains an Outperform rating on Teekay.
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