Pre-Market Analyst Updates: Halcon, Exterran, Ralph Lauren, Ariad Pharmaceuticals

Technology Stocks News 5

Analysts at RBC Capital have downgraded independent energy company Halcon Resources Corp. (NYSE:HK) to a Sector Perform rating from Outperform. The firm slashed its price target on the stock by one-third to $4 from $6 a share. In the pre-market session, shares of HK have slid 2.68% to $4 amid a 52-week range of $3.16 – $8.12.

Natural gas company Exterran Partners, L.P. (NASDAQ:EXLP) has been upgraded by analysts at Credit Suisse to an Outperform rating from Neutral. The price target on the stock has been set at $32 a share. In the pre-market session, shares of EXLP are level at $28.51, and have a 52-week range of $22.03 – $32.39.

Ralph Lauren Corp. (NYSE:RL) has been upgraded by analysts at Wells Fargo to an Outperform rating from Market Perform. The firm raised its price target range to $186 – $197 from $166 – $171 Shares of RL are level in pre-market trade at $159.99, within a 52-week frame of $146 – $192.03.

Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) slipped in Wednesday’s pre-market session, after Chardan Capital Markets cut its investment rating on the cancer-medicine company to neutral from buy, citing valuation. ARIA was off 1.7% at $8.57 in recent pre-market trading. It has a 52-week range of $2.15 to $23.00. Chardan reiterated its $9 target price for ARIA, saying the downgrade comes as shares are approaching that level.

“With current valuation, we see the market assumes reasonable market success of Iclusig in the U.S. and major EU countries under the revised indications,” the firm told clients in a note.

Chardan added, “with significant investment required in Iclusig including the post-marketing studies, a lack of visibility in regulatory pathway in expanded indications, uncertainties on the commercial opportunity of AP26113, and a potential financing risk, we expect ARIA shares to be range-bound in the near term.”

 

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