Standard & Poors Stock Picks 7/3/08
Posted on Thursday, July 3rd, 2008 | In Current Market News, Stocks to WatchStandard & Poors analyst Kenneth Cole rates FREDDIE MAC as SELL:
a. increased concerns about FRE’s capital situation.
b. In June, it announced plans to raise about $5.5B, yet there has been no word on when this will occur.
c. We believe FRE will face a more difficult funding environment in coming months than just a few months ago.
d. Fannie Mae (FNM) successfully raised about $6B shortly after announcing its intention to do so in June.
e. target price is $13
S&P analyst Herman Saftlas reiterates buy on ABBOTT LABORATORIES
a. FDA approves Xience drug-coated stent, as expected. Xience, which has shown superiority over the Taxus stent from Boston Scientific (BSX) , should capture some 25% of an estimated $2B U.S. market.
b. BSX is also launching its Xience-like Promus stent, with ABT to receive 40% of Promus sales.
c. target price of $63
S&P analyst T. Silverman rates ING:
a. target price for ING is $40
b. forecast is for margins on US life sales.
c. See ING among best positioned European insurers in growth markets of Asia, Central and Eastern Europe, and Latin America.
Check out other Standard & Poors stock picks at:
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