ISI

According to a research report published earlier today, ISI says hhgregg Inc.'s (NYSE: HGG) fiscal 3Q EPS of $0.60 is in-line with the pre-released $0.60 on 1/10. In the report, ISI commented, “Gross margin pressure drove operating margins down 240bps YoY. These results have similar elements to...

In a research report published today, ISI is reporting its findings after a 1Q12 price survey was conducted on the auto parts retail industry. ISI commented in the report, “We favor Auto Part retailers' strong FCF, pricing power, and relative eCommerce insulation. AAP and AZO are 5 PE pts...

According to a recent research report, ISI has increased Alexandria Real Estate Equities Inc.'s (NYSE: ARE) PT from $76 to $78. ISI commented in the report, “ARE's 4Q results matched our estimate of $1.10 and the company maintained its FFO guidance for FY12 in a range of $4.50 to $4.54 and our...

According to a recent research report, ISI has increased Douglas Emmett Inc.'s PT (NYSE: DEI) from $21.50 to $22.50 based on increases to other estimates. ISI explained in the report, “We are increasing our forward NAV estimate by 8% to $23/sh (based on a blended cap rate of 5.8% which underwrites...

According to a research report released today, ISI has raised 2012 production forecasts for Denbury Resources, Inc. (NYSE: DNR) to 73.5 MBoe/d. In the report, ISI commented, “This includes 35.5 MBoe/d from CO2-EOR (vs. 33-36 guidance) given the early-to-on time starts of Phases 7 & 8. We raise...

According to a research report published today by ISI, Hawaiian Electric Industries, Inc. (NYSE: HE) has reached a settlement agreement with the Consumer Advocate and Depart of Defense to recover costs associated with the East Oahu Transmission Project (EOTP). In the report, ISI commented, “. If...

According to a research report published today by ISI, Camden Property Trust (NYSE: CPT) is set to see continued strength through the Sunbelt and therefore, ISI is upgrading the rating to Buy. “While Camden's markets are typically viewed as low barrier to entry, the company's operating results...

According to ISI, Hawaiian Electric Industries (NYSE: HE) coverage is initiated at Hold. ISI said that Hawaiian Electric Industries is a holding company that owns three electric utilities serving the Hawaiian islands (63% of ‘11 EPS, excluding parent drag) and is also owner of the 3rd largest...

According to a research report published today, ISI has increased SL Green Realty Corp.'s (NYSE: SLG) NAV and DCF each by 2%, as well as increasing PT from $75 to $76. In the report, ISI commented, “We continue to like the SLG asset value story (NAV is 18% above the current stock price) with its...

According to ISI, Extra Space (NYSE: EXR) coverage is initiated at Buy. ISI said that it is initiating coverage of Extra Space (EXR), one of the largest owner/operators of selfstorage assets, with a Buy rating and $28 PT. “We believe that the storage industry has weathered past economic slowdowns...

According to ISI, Douglas Emmett (NYSE: DEI) is downgraded to Hold. ISI said that it is downgrading DEI from Buy to Hold as the stock has outperformed the REITs by ~900bp YTD, accurately reflecting in its view the improving fundamentals in LA relative to other office markets. “Going forward, the...

According to ISI, Northern Trust (NASDAQ: NTRS) price target is raised to $50. ISI said that reported EPS was $0.53 but includes $0.17 p.s. of restructuring charges partially offset by an $0.03 Visa expense benefit and $0.02 settlement benefit. “With the EPS upside and a better market backdrop, we...

According to ISI, F5 Networks (NASDAQ: FFIV) price target is raised to $130. ISI said that skeptics have long questioned whether FFIV's core ~$1.5 billion total available market (TAM) in application delivery controllers (ADCs) was large enough to sustain 20%+ top-line growth and a premium...

According to ISI, Entergy (NYSE: ETR) price target is raised to $75. ISI said that ETR's intention to sell $3.0 billion of regulated transmission assets to ITC Holdings is accretive for shareholders in two ways. “We estimate the combination of these two factors increases value by ~$5.50/share (7.7...

ISI is out with its report today on JPMorgan Chase (NYSE: JPM), reiterating Buy. In its report, ISI writes, "JPM remains our top bank pick and valuation still looks very attractive as our $47 PT implies significant upside and is based on a weighted average of just 8x our 2013 EPS estimate and 1....