In a report released on Thursday, analysts at Barclays raised price targets on seven stocks. The new price targets and explanations for the changes are included below.
1. Armstrong World Industries, Inc. AWI 1.69%: price target raised from $50.00 to $59.00
With Q4 earnings expected from the company on February 23, analysts are expecting Armstrong to guide for 2015 EBITDA of $383 million, well above consensus expectations.
2. BJ’s Restaurants, Inc. BJRI 0.99%: price target raised from $40.00 to $46.00
Analysts praise BJ’s disciplined cost-cutting, which led to a nearly one-third increase in earnings in 2014 despite negative year-over-year comps. Comps are off to a better start so far in 2015.
3. Cavium Inc CAVM 1.44%: price target raised from $70.00 to $80.00
The case that analysts make for Cavium is that the company’s core business justifies the stock’s current valuation and the huge potential of ThunderX and Xpliant represent nothing but upside.
4. CF Industries Holdings, Inc. CF 1.32%: price target raised from $274.00 to $316.00
Analysts update the target for CF Industries in light of lower natural gas costs and healthy farmer demand for nitrogen this spring. The company is also expected to see particularly high ammonia and UAN demand in early 2015.
5. Duke Energy Corp DUK 0.58%: price target raised from $77.00 to $84.00
Analysts actually cut 2015 earnings estimates slightly for Duke, but the price target increase reflects expanding multiples in the space.
6. Flowserve Corp FLS 0.03%: price target raised from $67.00 to $68.00
The small upward adjustment to Barclay’s target for Flowserve comes as a result of a slight increase to 2016 earnings projections.
7. Terex Corporation TEX 7.6%: price target increased from $29.00 to $31.00
Barclays analysts lowered their 2016 earnings per share estimates slightly from $2.65 to $2.55 but raised their projected multiple for the stock from 11x to 12x, resulting in a slightly elevated price target.
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