Jefferies has shaved its price target for Edgewell Personal Care Co (NYSE:EPC) and downgraded the stock now it has bounced off its recent lows.
While the skin-care company's second quarter results showed some evidence of stability, and the Street's earnings estimates appear reasonable, a change in the chairman position “casts near-term uncertainty over our consolidation thesis”, the broker said.
Its new price target of $87, down from $95, ascribes a 25% “take-out probability” over the next 12 months, down from 75% previously.
Wedbush Securities is raising its estimates for Tenet Healthcare Corp (NYSE:THC) after yesterday's results proved to be not as bad as expected.
The broker said first quarter numbers were a “sizeable beat” on market expectations while second quarter guidance to numbers above the consensus forecasts makes full-year guidance look conservative.
Wedbush, which expects Tenet to outperform the sector, said the company is one of the few hospital companies without labor cost issues.
“Their focus on shifting to higher acuity patients continues to drive above peer revenue/adj. admission trends, and we believe their early move to grow outpatient is paying off now in strong surgical trends,” Wedbush said, reiterating its $36 12-month price target.
The shares currently trade at around $32.26.
GoldMoney Inc (TSE:XAU), the gold-based financial services business, remains a speculative buy for Mackie Research (MRCC) after demonstrating growing usage of its BitGold platform as more than just a custodian for users' gold.
“GoldMoney reported BitGold April Key Performance Indicators (KPIs) this morning [Monday], which point to ongoing transaction velocity for the third consecutive month,” Mackie said.
“April KPIs showed user adds of ~80K, inline with our estimate. Gold deposits added to vaults was softer than we expected (~80Kg vs. MRCC ~125Kg); however, transaction volumes remained strong at ~390Kg (+750 bps M/M) vs. MRCC 410Kg,” the broker said.
The team at Mackie suspects users could have withdrawn gold, or they could be transacting more on the BitGold platform, or both. Either scenario is positive for GoldMoney as it makes around 100 basis points (100 bps), or 1%, per transaction.
GoldMoney's assets under management were slightly ahead of what Mackie expected, but the broker is sticking with its estimates for the time being, and leaving its price target at $7. GoldMoney shares currently trade at around $4.50.