Vera Bradley Pullback Attributed to Error and 3 Stock Analyses Turn Heads
GT Advance Technologies Inc. (NASDAQ:GTAT): According to Piper Jaffray, its checks with HTOT, which is GT Advanced’s second largest customer, suggested that the continuing furnace orders have probably been pushed out into in the second half of 2013. The firm stated that HTOT has already received 120 furnaces out of an original order of 320 units. Piper predicts that shares of GT Advanced will be range bound until booking and shipment visibility shows improvement, likely closer to the second half of 2013. The firm keeps its Overweight rating and lowers its price target to $7 from $10 on the stock.
Athenahealth, Inc. (NASDAQ:ATHN) 2013 guidance fell in-line with its expectations, according to Citigroup, and the firm also notes that the company indicated that increased spending may be necessary to drive 30 percent revenue growth. Citi believes that athenahealth’s wide guidance range possibly may concern investors, but it predicts a muted reaction to shares as investors digest the company’s growth expectations. The firm maintains its Buy rating and a $100 price target on the stock.
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Vera Bradley, Inc. (NASDAQ:VRA): Piper Jaffray has credited its post earnings pullback in Vera Bradley to the company’s inventory process error, which generated a sooner than anticipated replenishment of best seller styles and patterns. The firm still recommends the shares, and it keeps its Overweight rating and a $32 price target on the stock.
Michael Kors Holdings (NYSE:KORS): Piper Jaffray has stated that its online search analysis suggests that Michael Kors’ Q3 currently is tracking ahead of the plan. The firm increased its earnings estimates, increased its price target for shares to $65 from $63, and claims that the stock continues to be its Holiday pick for 2012.
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