Goldman Sach has raised RealNetworks (RNWK) from a Sell to a Neutral rating. Amdocs Limited (DOX) was raised from a Neutral to a Buy.
Secure Computing (SCUR) was downgraded from a Neutral at Sell, or from bad to worse.
Goldman also trimmed estimates on Amgen (AMGN) and Progressive Gaming International (PGIC).
On the dividend front Goldman Sachs noted several dividend hikes, but expects more dividend news from the following: P&G (PG), ExxonMobil (XOM), Qualcomm (QCOM), IBM (IBM), and J&J (JNJ).
Barrick Gold (ABX) reiterated Buy/Attractive after CEO meetings. The company plans to maximize leverage to gold prices, has a strong development pipeline, minimize cost structure, expand gold margins, expand current project values, and keep a disciplined approach to M&A.
Goldman sees 10% trade opportunity in Best Buy (BBY) before it begins to approach historical average valuation targets. It does note that it does not expect another break-out year in margins so maintains a Neutral rating.
On Genentech (DNA), Goldman expects FDA Approval of a competing drug Tykerb for breast cancer from GlaxoSmithkline (GSK) and expects minimal impact on Genentech.
Jon C. Ogg
March 12, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.