Condor Petroleum Inc (TSE:CPI) was maintained as a “buy”, but its target price was raised to $2.60 from $2.50 barely a month after broker Mackie Research initiated coverage.
“The success of the first two wells of the four well drilling program in Turkey has likely added considerable reserves with additional potential reaming with the final two wells. With the establishment of first production in Turkey expected in Q2/17, Condor will have a solid cash flow base to fund operations which can be directed toward additional lower risk exploration the Thrace Basin in Western Turkey and company-maker exploration potential in the Pre-Caspian Basin in Kazakhstan,” the broker said in a note.
RetailMeNot, Inc. (NASDAQ:SALE) rocketed by 8% to $9.75 on Tuesday although that had more to do with overshooting third-quarter earnings than the decision of brokers at Wedbush to reiterate the stock as “neutral” but with a target price cut to $9.50 from $10.
“We believe SALE remains a top destination for discount-seeking consumers and is well-positioned to capitalize on the growth of coupon digitization. However, we expect continued declines in desktop traffic coupled with mobile monetization headwinds to pressure top line growth. We remain on the sidelines pending signs of renewed and sustainable growth in the core business,” Wedbush said in a note.
Meanwhile, the Austin, Texas-based company said it had profit of less than 1 cent on a per-share basis. Earnings, adjusted for one-time gains and costs, came to 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The online coupon company posted revenue of $64.6mln in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $66.3mln.
For the current quarter ending in December, RetailMeNot said it expects revenue in the range of $90mln to $98mln.
EPAM Systems Inc (NYSE:EPAM) shares were firmer on Tuesday after the stock was reiterated with a target price of $82 by Wedbush.
“While EPAM remains one of our long term, top ITS picks (Digital play), given the choppy spending environment as well as the company's FS exposure (UBS, Barclays) we are cautious on the stock ahead of Monday's Q3/CY16's earnings release. We'll specifically be concerned over near-term visibility as well as pricing dynamics at large clients,” Wedbush said.
EPAM shares were up 0.03% at $64.39.
Johnson Controls International (NYSE:JCI) shares gained 1.7% to $41.00 on Tuesday after the stock was added to the "Conviction Buy" list at brokers Goldman Sachs, following the completion of its spin-off of its Adient unit. Adient is a maker of automobile seating components.