Our stocks in the news 3/25/2010
Stocks in the news…
Deutsche Bank initiates Peabody Energy (BTU 47.23) with a Hold and sets a $57.50 tgt…
Deutsche Bank initiates Arch Coal (ACI 23.90) with a Buy and sets a $32 tgtNetflix target raised to $76 at Kaufman on continued momentum and positive fundamental outlook (72.37)
NetEase.com (NTES 37.36) with a Buy and sets a $49 tgt,
Both BTU and ACI were recommended as (partial) shorts on 3/19/2010, as we said sell a 50% position. We still stand behind the call and would look to add based on the upcoming sub-divisions.
We are maintaining the stops ($49.51 and $26) for both.NFLX ($72.37)…We have a $69.99 stop and a $74 target. We will likely take a (nice) profit if it gets there on this upgrade.
NTES ($37.36)…recommended as a short at $38.96. This has come back down and is testing the 50-day MA, which can offer some support. We still see this sub-dividing lower, as C wave (down) and would look to add if this bounces back to the top end of the trading range, or back up near $40. We still have a downside target of $32.
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