Piper Jaffray analyst Michael Olson today launched coverage of Coinstar with an Overweight rating and $38 price target. The parent of the Redbox video kiosk chain closed yesterday at $31.96.
Olson sees several trends working in the company’s favor.
After Google unveiled new features to its search results yesterday, one analyst is saying that the company’s leadership position has become virtually unshakable.
In a research report, Piper Jaffray analyst Gene Munster said that while the new products–Google Search Options, Google Squared and Rich Snippets–were “more evolutionary than revolutionary,” they demonstrated the company’s continued ability to innovate.
China today is reportedly shutting down about 10,000 unregistered and unapproved Web sites, most of them operated by small businesses, according to Piper Jaffray analyst Gene Munster. He says that “multiple Chinese media sources” last night discussed the push to clean up unwanted Internet sites.
Piper Jaffray’s Jesse Pichel chopped his target price for Evergreen Solar in half this morning, from $5 to $2.50, after disappointing Q4 results. His cautious approach is also a result of what he sees as a possible lack of resources to execute expansion and outsourcing plans in Asia.
Gene Munster of Piper Jaffray cut estimates on 33 Internet companies today. He claims that it’s due to the “significant deterioration in the economic and consumer spending outlook.” Well, at least people are saving a little money. Munster sees e-commerce spending down 10 percent in the coming year, and online advertising up just two percent.
Piper Jaffray analyst Mitchell Kaiser this morning cut his rating on Best Buy (BBY) shares to Neutral from Buy, and chopped his price target on the stock to $49 from $54. “We are concerned about gross margin erosion in the home theater department as a result of what we expect will be significant flat panel TV price declines in the coming months,” Kaiser writes.
Piper Jaffray analyst Gene Munster writes this morning that Apple’s (AAPL) expansion today of the iPhone’s availability to 21 additional countries, nearly doubling the total, will lead to a 78 percent increase in addressable buyers, and that the resultant rise in iPhone unit sales is not being taken account of in Street estimates for Apple.
Such is the frenzy for information about potential new products from Apple (AAPL) that the blogosphere has begun to lose track of the rumors.
On Macrumors.com, a post this morning makes reference to a report purportedly put out today by Piper Jaffray analyst Michael Olson.
Piper Jaffray’s Gene Munster, perhaps the most bullish analyst on the Street on Apple (AAPL) shares–he maintains a Buy rating and $250 price target–wrote a detailed analysis today on what the true cost of the iPhone 3G will be for U.S. consumers.
Apple (AAPL) shares are getting hit hard in today’s broad market selloff. While there are some minor news developments involving Apple–a lawsuit over the use of the phrase “Mighty Mouse,” a report that the company will use LED backlit displays in future laptops–there’s nothing obvious that would be pressuring the stock.
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