Analyst Actions: ARNA, LVS, GS, FTR, ADM
Friday, July 16, 2021 10:54 AM

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Arena Pharmaceuticals (NASDAQ: ARNA): J.P. Morgan on Friday upgraded Arena Pharmaceuticals to Overweight from Neutral and lifted its price target to $6 from $5. In a research note to clients, the brokerage firm said that Arena's obesity drug lorcaserin has the "best shot at regulatory success." On Thursday, a Food and Drug Administration panel rejected rival Vivus Inc.'s potential weight loss drug Qnexa, citing safety concerns. Shares of Arena Pharmaceuticals surged more than 16% in morning trading. 

Las Vegas Sands (NYSE: LVS): Jefferies & Co. on Friday initiated coverage on the stock with a Buy rating and a price target of $30. Shares of the casino operator fell 1.66% to $23.74.

Goldman Sachs (NYSE: GS): Bank of America/Merrill Lynch this morning upgraded Goldman Sachs to Buy from Neutral and upped its price target to $182 from $160. The Wall Street firm on Thursday agreed to pay $550 million to the Securities and Exchange Commission to settle civil fraud linked to mortgage investments. Goldman shares rallied as much as 4% Friday morning.

Frontier Communications Corp (NYSE: FTR): Citigroup on Friday lifted second quarter EPS estimates to $0.17 from $0.11 and full-year 2010 estimate to $0.54 from $0.45. In a research note, the firm said “We have adjusted our estimates that reflect: 1) an increase in 2Q EPS to exclude Spinco-related interest expense prior to the close of the merger in July; 2) future depreciation expenses based on actual 1Q/10 results for Spinco in the related Form 10 filing; and 3) modestly adjusted our operating and synergy estimates with small changes in pro forma OIBDA for FY10 and FY11 and an increase in our OIBDA outlook for FY12." Citigroup maintained a 'Hold' rating and $9 price target on shares of Frontier Communications.

Archer Daniels Midland (NYSE: ADM): Credit Suisse this morning upgraded the stock to Outperform from Neutral and raised its price target to $34 from $30. Shares of the company rose 1.08% to $27.16 in morning trading.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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