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Standard & Poor's


10/23/14 11:17:37 AM

Yandex N.V., The Cheesecake Factory Incorporated, Mercer International Inc.

Yandex N.V.(YNDX) : Rencap upgrades Yandex N.V. (NASDAQ: YNDX) from Hold to Buy, according to Bloomberg. View More Analyst Ratings for YNDXView the Latest Analyst Ratings 2014 Benzinga does not provide investment advice. All rights reserved.

The Cheesecake Factory Incorporated(CAKE) : Stifel issued a note on The Cheesecake Factory Incorporated (NASDAQ: CAKE) Thursday after the company missed Q3 2014 earnings expectations. The firm maintained a Buy rating and lowered its price target from $58 to $56. Analysts Paul Westra and Michael Olsen defended "Buy-rated CAKE shares on expected modest weakness after CAKE posted a worse 3Q14 release that included -$0.09 worse 3Q14 EPS of $0.48 (vs. our/consensus' $0.58E/$0.57E)." Management issued "$0.03 worse 4Q14 EPS guidance of $0.58-$0.62 (vs. our now/consensus' prior $0.62E/$0.63E)" and "$0.18 below-consensus initial 2015 EPS guidance of $2.35-$2.45 (or +15 percent yr/yr; vs. consensus' $2.58E)," according to Westra. Westra felt that management's 2015 EPS guidance "will prove too conservative...because it assumes that 2015 will have a similar industry backdrop as 2014's; whereas we believe there is a 'rising-tide' dining-out recovery underway that will continue through 2015-16." The report concluded that "the majority of the dairy-priced-driven 2H14 EPS miss was already imbedded in CAKE's share price; and that 4Q14/2015 EPS guidance was 'kitchen-sinked' - and we thus recommend new purchases on a potential pullback." The Cheesecake Factory traded at $43.47, down 2.3 percent. View More Analyst Ratings for CAKEView the Latest Analyst Ratings 2014 Benzinga does not provide investment advice. All rights reserved.

Mercer International Inc.(MERC) : In a report published Thursday, Credit Suisse analyst Andrew M. Kuske downgraded the rating on Mercer International (NASDAQ: MERC) from Outperform to Neutral, but reiterated the $12.00 price target. In the report, Credit Suisse noted, "We are downgrading our Mercer International rating to Neutral from Outperform largely the result of share price appreciation. Over multiple timeframes, the stock has delivered both absolute and relative out performance against a number of peers. Despite the ratings downgrade, the stock remains well exposed to a robust NBSK market along with facing favourable FX movements of late. With an insufficient potential return to target, we downgrade the stock to Neutral from the previous Outperform rating." Mercer International closed on Wednesday at $11.37. View More Analyst Ratings for MERCView the Latest Analyst Ratings 2014 Benzinga does not provide investment advice. All rights reserved.


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