Schaeffer's Trading Floor Blog

Analyst Update: Splunk Inc, Cepheid, and United States Steel Corporation

Analysts adjusted their ratings on SPLK, CPHD, and X

by 7/18/2014 1:40 PM
Stocks quoted in this article:

Analysts are weighing in today on software stock Splunk Inc (NASDAQ:SPLK), molecular diagnostics specialist Cepheid (NASDAQ:CPHD), and industrial metals producer United States Steel Corporation (NYSE:X). Here's a quick look at today's brokerage notes on SPLK, CPHD, and X.

  • Late Thursday, BMO started coverage of SPLK with a "market perform" rating and $51 price target. The stock is up 1.3% at last check to trade at $46.39, moving higher from support in the $45 area. It's been a rough year for Splunk Inc shares, as they've shed nearly one-third of their value in 2014. However, BMO's lukewarm rating is relatively rare for SPLK. Among the 19 brokerage firms tracking the tech laggard, 14 consider it worthy of a "strong buy."

  • CPHD has tumbled 8.6% to linger at $42.23, with traders responding to the company's downwardly revised earnings forecast for fiscal 2014. The news triggered price-target cuts from ISI Group (to $37), Wedbush (to $55), and Raymond James (to $54), but Needham took a different tack by raising its price target to $52. Stepping back, the average 12-month price target for Cepheid is $53.28 -- about 26% north of the security's current perch. As a result of today's sell-off, CPHD is at risk of closing beneath its 320-day moving average for only the second time since last August.

  • Cowen and Company raised its price target on X to $36 from $34, and the bullish note has pushed the shares 2.6% higher to $27.30. Most brokerage firms are more cautious on United States Steel Corporation, as only 38% of analysts have deemed the stock worthy of a "buy" or better rating. Likewise, bears have sold short a steep 26.7% of X's float, despite the equity's year-over-year gain of more than 51%.

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