Barron's Summary 5-23-2009
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Date updated:05-23-2009

Summary of the bullish and bearish positions mentioned in the May 23rd, 2009 Barron's.

symbol name last price % change open
  • +
  • TMO
    Thermo Fisher Sci
  • $44.88
  • +0.34%
  • $44.37

Thermo Fisher Scientific shares have been mostly flat during this rally. But the balance sheet is solid, and there is plenty of room for investors to rediscover the stock.

People owning TMO also tend to own: AHMAIZALBAMPAVTAXCABBI

TheStreet.com Rating: B What is this?

  • +
  • TGT
    Target Cp
  • $49.70
  • 0.00%
  • $49.60

One of the most successful retailers in America, Target is a buy at 41. Ackman's plan to unlock the company's real-estate value may be a sell. While there may be merit in some of Ackman's arguments, Target remains one of the best-run retailers in the country. His proxy fight seems to have a lot to do with ego and has been a major distraction for management at an otherwise challenging time. Indeed, it seems time to buy Target shares, not Ackman's campaign.

People owning TGT also tend to own: CCATDEFNMFREGEKO

TheStreet.com Rating: B- What is this?

  • +
  • CHE
    Chemed Corp
  • $45.16
  • +0.38%
  • $44.70

The housing bust, among other worries, has held down Chemed stock in recent months. One analyst puts its upside more than 30% above recent levels within 12 to 18 months.

People owning CHE also tend to own: AKSBFBBTUCHKCMCSACSCODRI

TheStreet.com Rating: B What is this?

  • +
  • MDT
    Medtronic Inc
  • $37.97
  • -1.17%
  • $38.37

In last week's issue Barron's offered an upbeat assessment of Medtronic's (MDT) prospects ("Medtronic's Rx for Recovery," May 18), and we remain bullish. We were cheered that Medtronic managed to stabilize its market-share position in the latest quarter in implantable defibrillators, after a damaging voluntary product recall in 2007, and that revenue rose in the latest quarter across key business units, including cardiac-rhythm-disease management, spinal and biologics, cardiovascular, neuromodulation and diabetes. The stock has fallen 3.8% since our story, and Wall Street's fiscal "10 consensus estimate has been pared to $3.16. "While the downward pressure isn't surprising, it is overdone," says Tim Lee, an analyst at Piper Jaffray. He notes that management's 2010 earnings guidance incorporates probable dilution of six to seven cents a share from four recent acquisitions. "Consensus, including us, didn't fully appreciate the magnitude of the acquisition-related dilution," says Lee, who maintains a Buy on the stock, with a 12-month price target of 44. Even with its restrained outlook, Medtronic is cheap. The stock trades for about 10 times the midpoint of management's forecast -- and yields 2.3%.

People owning MDT also tend to own: AAPLADBEBBYCMCSAGOOGJCPORCL

TheStreet.com Rating: B- What is this?

  • +
  • BC
    Brunswick Cp
  • $10.92
  • -1.27%
  • $10.93

Like the plumbing in one's home, the pension funds that corporations run for employees are rarely given much thought until they leak. Only when the plan is significantly under water and threatens earnings do investors take notice. If the stock market doesn't improve, that could happen later this year or next for big capital-goods makers, a group that includes such well-known names as Caterpillar (CAT), Ingersoll-Rand (IR), Brunswick (BC), Eaton (ETN) and Whirlpool (WHR).

People owning BC also tend to own: CNQCVHIRLENMDCRYLSUN

TheStreet.com Rating: D What is this?

  • +
  • CAT
    Caterpillar Inc
  • $57.60
  • -0.67%
  • $57.38

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.

People owning CAT also tend to own: AAALLAPCBABACCCBH

TheStreet.com Rating: C+ What is this?

  • +
  • IR
    Ingersoll Rand Lt
  • $33.84
  • +0.50%
  • $33.47

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.

People owning IR also tend to own: AHSCHKCVSFGSLLYLOW

TheStreet.com Rating: C- What is this?

  • +
  • ETN
    Eaton Cp
  • $64.31
  • -0.33%
  • $64.43

The largest deteriorations in under funded pensions came at Ingersoll Rand, $854 million, due in part to its acquisition of Trane; and Eaton, $1.6 billion; as well as Caterpillar, $5.8 billion. At Caterpillar, the hurt came from a 70% equity allocation in its pension fund. Others have 55% to 60% allocations, and some below 50%, Regan notes.

People owning ETN also tend to own: ABXBABACBHPCCHKCHL

TheStreet.com Rating: B- What is this?

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