Major Analyst Action Surrounding These Stocks Today

Biotechnology company Gilead Sciences Inc. (NASDAQ:GILD) has seen its price target lowered to $95 from $115 by Credit Suisse Group AG although the analysts reaffirmed their ‘Outperform’ rating on the stock. The lowered price target still implies an upside of almost 20% from Gilead’s current levels. Gilead shares are down by nearly 23% so far this year. A total of 85 funds from our database amassed $3.13 billion worth of Gilead shares, heading into the third quarter, down from 93 funds that held $4.01 billion worth of stock a quarter earlier.

Analysts at Scotia Howard Weil initiated coverage on Atwood Oceanics Inc. (NYSE:ATW) with a ‘Sector Perform’ rating and a $8.50 price target. However, Atwood Oceanics also received couple of downgrades from Wood & Company and Raymond James Financial, which downgraded the stock to ‘Underperform’ from ‘Market Perform’, while Scotia Howard Weill initiated coverage on the stock with a ‘Sector Perform’ rating and $8.50 price target. Atwood Oceanics had 20 funds from our database long its stock at the end of the June quarter. The total value of their positions at the end of the quarter was $118 million or 14.60% of the company’s total outstanding shares.

Renaissance Capital upgraded shares of VimpelCom Ltd. (ADR) (NASDAQ:VIP) to ‘Buy’ from ‘Hold’, but lowered its price target on the stock to $4.30 from $5.10, implying an upside of almost 30% from the stock’s current levels. VimpelCom has had a mixed year so far and the stock has gained around 2% year-to-date. Among the funds we track, 10 held $113.56 million worth of VimpelCom shares at the end of June, compared to 13 funds with $123.83 million worth of stock a quarter earlier.

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