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Full analysis of all these stocks is available at http://at.zacks.com/?id=2676.
Here is a synopsis of all five stocks:
Bull of the Day: American Tower (NYSE: AMT)
We reaffirm our Buy rating and the same valuation target for American Tower Corp., a leading operator of wireless communications towers in the USA, Mexico, and Brazil, following its second quarter 2008 financial results, which were better than our estimates. Overall performance has been driven by substantial demand for more tower space to facilitate high-speed data services and mobile video, along with 3G and WiMAX technologies.
Recent initiatives in emerging markets of India will further solidify long-term growth capabilities. Improvements continue with respect to several of its financial metric benchmarks and the company has sequentially outperformed its peer group on an EBITDA margin basis.
Bear of the Day: Wilmington Trust (NYSE: WL)
Credit quality deteriorated during the quarter, with both non-performing assets (up 7 bps sequentially) and net charge-offs (up 14 bps) rising during the quarter. After reviewing the results, we are reducing our FY08 and FY09 estimates and maintaining our Sell recommendation on the shares with a six-month target price of $22.00 per share.
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NetEase.com (Nasdaq: NTES)
NetEase.com's revenue and earnings for the second quarter exceeded market expectations due to strong growth from its online games and advertising business and business tax refund.
We think NetEase's results demonstrate that it has the ability and experience to expand the life cycle of its online games despite the fierce competition in the Chinese online gaming market. However, we are concerned that NetEase's current games have gotten long in the tooth, and new games may not be as successful as its current popular games. We need more time to confirm whether its growth momentum in the fourth quarter is sustainable in the future. Therefore, we are maintaining our Hold rating on NetEase.
Cincinnati Bell (NYSE: CBB)
We are maintaining our Hold recommendation for Cincinnati Bell, Inc. as the company continues to experience a gradual decline in fixed access lines, albeit less severe than its competitors.
Cincinnati Bell plans to build out a 3G network in 2008 utilizing the AWS spectrum which is expected to drive revenue growth in future reporting periods. Furthermore, the company's earnings and cash flow have experienced meaningful growth as the company completed the final stage of its refinancing plan and as management remains optimistic about opportunities for its wireless business.
Mylan, Inc. (NYSE: MYL)
While we expect Mylan's acquisition of Merck Generics to contribute to long-term growth, near-term execution risks remain. Mylan announced certain strategic initiatives which should help drive long-term growth. We view these initiatives as steps in the right direction. But the management also stated that they expect 2008-2010 EPS to be negatively impacted by a slower-than-expected new product launch.
The company adjusted EPS guidance for 2008-2010 based on higher expenses, reduced opportunities from patent challenges and the potential sale of its specialty business. We believe that the new guidance should be achievable and we have updated our model based on the guidance. The company expects to conclude the sale of its specialty business later this year - we have removed contributions from this segment from the fourth quarter onwards. We maintain a Hold rating on the stock.
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Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
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