CHICAGO - (Business Wire) 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:
PetroChina Company Ltd. (NYSE: PTR),
Internap Network Services Corp. (Nasdaq: INAP),
Kinross Gold Corp. (NYSE: KGC),
HEICO Corp. (NYSE: HEI) and
Canadian Pacific Railway Ltd. (NYSE: CP).
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Here are highlights from Wednesday’s Analyst Blog:
PetroChina with Some Headwinds
PetroChina (NYSE: PTR) is one of the largest producers of crude oil and natural gas in the world, with 2007 production of 838.8 million barrels of crude oil and 1,627 billion cubic feet (Bcf) of marketable natural gas. On an oil-equivalent basis, production totaled 1.1 billion oil-equivalent barrels (BOE), representing a 4.8% increase over the 2006 level.
We are maintaining our Hold recommendation on PetroChina ADRs [American Depositary Receipts] following first-half 2008 results. The impact of strong upstream volume growth was more than offset by continued downstream headwinds, reflecting rising input costs and the Chinese government's cap on fuel prices.
Internap Network Initiated a Sell
Internap Network Services Corporation (Nasdaq: INAP) offers a suite of network optimization solutions that allow companies to transfer business-critical applications to the Internet. It offers products and services that optimize Internet applications for e-commerce, customer relationship management (CRM), multimedia streaming, voice-over Internet-protocol (VoIP), virtual private networks (VPNs), and supply chain management.
Being a small player in a competitive industry, Internap has a relatively low revenue growth rate. Although the company has been gaining traction in its data colocation services, it is witnessing softness in its content delivery network business. Much of this has been caused by the weakening economy, which has forced INAP to trim its 2008 guidance twice.
Kinross Gold Retains a Hold
Headquartered in Ontario, Canada, Kinross Gold Corporation (NYSE: KGC) is primarily involved in the exploration and operation of gold mines. Kinross currently ranks among the top 10 gold mining companies in the world, with a targeted production of 2 million ounces of gold annually.
Higher gold prices bode well for Kinross' top-line growth. The various exploration and expansion activities undertaken will enhance production levels. KGC has received approval for a huge investment in the Paracatu mine expansion, which is expected to start production at the end of 2008-third quarter.
HEICO to Keep Flying Straight
Aside from original equipment manufacturers (OEM) and their subcontractors/suppliers, HEICO Corporation (NYSE: HEI) purportedly is the world's largest independent manufacturer of jet engine and aircraft component replacement parts approved for use by the Federal Aviation Administration (FAA). It also manufactures various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries.
Maintenance, repair and overhaul (MRO) of commercial equipment is at a heightened level because of increased usage, which engenders a fairly vibrant after-market. In addition, rising fuel costs are forcing the airlines to find ways to cut other expenses. Both of these drivers offer significant opportunities for HEICO to expand & flourish.
Canadian Pacific Chugging Along
We are maintaining our Hold on Canadian Pacific Railway Limited (NYSE: CP), but cutting our target price to $55. CP will report third quarter results on October 28. We are continuing our 2008 diluted EPS estimate at $4.05, in line with management's guidance of C$4.00-4.20 (US$3.95-4.15), as well as our 2009 estimate at $4.75.
Results should benefit from solid growth in revenues (from fuel surcharges) and improved efficiencies, though fuel costs and a slowing economy are hindrances. CP's 2008 second quarter net earnings of C$150 million dropped 14% compared to the prior-year quarter due to declining freight volumes and a 34% jump in fuel costs.
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