Schaeffer's Trading Floor Blog

Analyst Update: Kinder Morgan Inc, Intercept Pharmaceuticals Inc, and Urban Outfitters, Inc.

Analysts adjusted their ratings on KMI, ICPT, and URBN

by 8/12/2014 1:59 PM
Stocks quoted in this article:

Analysts are weighing in today on energy issue Kinder Morgan Inc (NYSE:KMI), biotech concern Intercept Pharmaceuticals Inc (NASDAQ:ICPT), and retailer Urban Outfitters, Inc. (NASDAQ:URBN). Here's a quick look at today's brokerage notes on KMI, ICPT, and URBN.

  • After Monday's big merger announcement, KMI garnered a price-target hike to $49 from $41 at Credit Suisse. However, shares of Kinder Morgan Inc are off 2.6% this afternoon to trade at $38.35, paring a portion of yesterday's 9% rally. Most analysts are in the bullish camp along with Credit Suisse, which maintains an "outperform" rating on KMI. Among the 12 brokerage firms tracking the stock, eight have doled out a "buy" or better endorsement.

  • Positive trial data has translated into a 26.3% bounce for ICPT this afternoon, with the shares trading at $299.49. The stock scored an upgrade to "outperform" from "market perform" from Leerink Swann, which also upped its price target to $445 from $270. Meanwhile, analysts at Deutsche Bank and RBC hiked their ICPT price targets to $500. Today's bullish notes are nothing new for Intercept Pharmaceuticals Inc, which already boasts 80% "buy" ratings and an ambitious average 12-month price target of $457.09.

  • Wunderlich started coverage of URBN with a "buy" recommendation and a $42 price target, but the shares are fractionally lower at last check to trade at $36.72. However, Urban Outfitters, Inc. remains above its 10-day moving average, which has underlined the stock's gains since July 18 -- a period during which the shares have added roughly 8%. In fact, URBN settled last week above resistance at its 40-week moving average for the first time since September 2013. A continued climb by the stock could shake loose some of the weaker bearish hands; following a 41% jump during the past two reporting periods, short interest now accounts for 7.2% of the equity's float. Looking ahead, URBN is due to report its fiscal second-quarter earnings after the market closes next Monday, Aug. 18.

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