Zacks.com announces the list of stocks featured in the Analyst Blog.
Every day the Zacks Equity Research analysts discuss the latest news and
events impacting stocks and the financial markets. Stocks recently
featured in the blog include: Crown Castle International (NYSE:
CCI), American Superconductor Corporation (NASDAQ: AMSC), Tetra
Tech (NASDAQ: TTEK), American Oriental Bioengineering Inc. (NYSE:
AOB) and Canon, Inc. (NYSE: CAJ).
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Here are highlights from Friday’s Analyst Blog:
Crown Castle a Buy Up to $30
We maintain our Buy recommendation with a reduced valuation target for Crown
Castle International (NYSE: CCI), a leading operator of wireless
communications towers in the U.S.A. and Australia, as the company
prepares to announce 4th quarter 2008 financial results.
Crown Castle performed well with respect to several parameters,
including site rental revenue, gross margin, adjusted EBITDA, and
recurring cash flow. Financial results are expected to be driven by
substantial demand for more tower space to facilitate high-speed 3G
mobile technologies.
Watch American Superconductor
American Superconductor Corporation (NASDAQ: AMSC) is a
technology company with products based on clean energy and power
distribution. The two primary markets AMSC serves are the wind energy
market and the power transmission and distribution, or “power grid”
market.
The firm is one of the few technology companies in the current
environment which will actually grow yearly revenue. We feel AMSC could
benefit from a ramp-up in government spending. The firm is not without
risk, however, as the large projects can make cost-control difficult.
Tetra Tech Performs Well
Tetra Tech (NASDAQ: TTEK) reported Q1-09 results: Gross Revenue =
$638.7 million, up 35.8%; Net Revenue (i.e., excludes subcontractor
costs) = $330.0 million, up 19.1%; Operating Income = $28.6 million, +
26.0%; Net Income = $16.3 million, up 26.4%; Diluted EPS = $0.27, up
24.1%; Backlog = $1.77 billion, up 36.4%. There is joy on Colorado
Boulevard.
The Net Revenue breakdown by customer: Federal = 43%, Commercial = 40%,
State & Local = 15% and International (includes the results of
recently-acquired Wardrop Engineering of Canada) = 15%. Revenue growth
in Q1-09: Federal = Gross +8%, Net +12%; Commercial = Gross +127%, Net
+43% (~$100 million, or one-half of the total ~$200 contract million
value, from one project); State & Local = Gross -14%; Net -10%.
American Oriental Bio Growing
American Oriental Bioengineering Inc. (NYSE: AOB) is a
China-based specialty pharmaceutical company which develops,
manufactures and commercializes both plant-based pharmaceutical (PBP)
and plant-based nutraceutical (PBN) products.
Third quarter financials were strong and in line with our expectations.
We expect the company to continue to deliver strong performance in the
4Q08 and 2009 due to relatively high growth in Traditional Chinese
Medicine (TCM) market in China.
Canon Downgraded to Sell
Based in Japan, Canon, Inc. (NYSE: CAJ) is one of the leading
designers, manufacturers, and marketers of office equipment, cameras,
and optical products in the world. Canon is a high-technology-oriented
company with strategies to develop innovative, value-added products that
incorporate advanced technologies.
We believe the sharp appreciation of the yen is eroding Canon’s revenue
and profits. Canon’s results for fiscal 2008 were hurt by weak consumer
spending and falling demand amid a global economic slowdown. The
company’s Q4 of 2008 results were disappointing and CAJ cut its forecast
for the full year 2009.
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