Citigroup (C) on (MSFT) (VMW) (CRM) (ADBE) (SYMC) and Macroeconomic Effect on Sector

Referencing the upcoming Technology Conference, Citigroup (NYSE:C) software analyst Walter Pritchard said one major concern for the sector is the macroeconomic situation, which is weakening, but not yet showing up in the outlook for software companies such as Microsoft (NASDAQ:MSFT), VMWare (NYSE:VMW), Salesforce.com (NYSE:CRM), Adobe (NASDAQ:ADBE) and Symantec (NASDAQ:SYMC).

Pritchard said, “It may be a matter of time before the backdrop catches up with software companies,” as the probable fallout hasn't hit the estimates for the firms yet.

Among his favorites in the software sector are Taleo (NASDAQ:TLEO), Verisign (NASDAQ:VRSN), Symantec, and Check Point (NASDAQ:CHKP).

Other companies in the Conference will be Autodesk (NASDAQ:ADSK), BMC Software (NASDAQ:BMC), CA (NASDAQ:CA), Citrix Systems (NASDAQ:CTXS), Dassault Systems (OTC:DASTY), Fortinet (NASDAQ:FTNT) and SuccessFactors (NASDAQ:SFSF).

Symantec (SYMC) (TDG) (BIIB) (DPZ) (BJRI) (RWT) Upgraded

Symantec (NASDAQ: SYMC), Transdigm Group (NYSE: TDG), Biogen Idec Inc. (NASDAQ: BIIB), Domino’s Pizza, Inc. (NYSE: DPZ), BJ’s Restaurants, Inc. (NASDAQ: BJRI) and Redwood Trust Inc (NYSE: RWT) upgraded by analysts.

Symantec (SYMC) was upgraded by Standpoint Research from a “Hold” rating to a “Buy” rating. They have a price target of $20.00 on the company.

Transdigm Group (TDG) was upgraded by RBC Capital to an “Outperform” rating.

Biogen Idec Inc. (BIIB) was upgraded by Oppenheimer from a “Perform” rating to an “Outperform” rating. They have a price target of $109.00 on the company.

Domino’s Pizza, Inc. (DPZ) was upgraded by Oppenheimer from a “Perform” rating to an “Outperform” rating. They have a price target of $32.00 on the company.

BJ’s Restaurants, Inc. (BJRI) was upgraded by Oppenheimer from a “Perform” rating to an “Outperform” rating. They have a price target of $54.00 on the company.

Redwood Trust Inc. (RWT) was upgraded by Cantor Fitzgerald from a “Hold” rating to a “Buy” rating.

CNOOC (CEO) (HLS) (PPBI) (SYMC) (AXTI) (AXTI) (LVLT) (REGN) Upgraded

CNOOC (NYSE: CEO), HealthSouth (NYSE: HLS), Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), Symantec (NASDAQ: SYMC), AXT, Inc. (NASDAQ: AXTI), Level 3 (NASDAQ: LVLT) and Regeneron Pharmaceuticals (NASDAQ: REGN) upgraded by analysts.

CNOOC (CEO) was upgraded by UBS AG (NYSE:UBS) from a “Neutral” rating to a “Buy” rating.

HealthSouth (HLS) was upgraded by JMP Securities from a “Market Perform” rating to an “Outperform” rating.

Pacific Premier Bancorp, Inc. (PPBI) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating. They have a price target of $8.70 on the company.

Symantec (SYMC) was upgraded by Wunderlich from a “Hold” rating to a “Buy” rating. They have a price target of $22.00 on the company, up from $21.00.

AXT, Inc. (AXTI) was upgraded by Needham & Company from a “Hold” rating to a “Buy” rating. They have a price target of $11.00 on the company.

Level 3 (LVLT) was upgraded by Raymond James (NYSE:RJF) from an “Underperform” rating to a “Market Perform” rating.

Regeneron Pharmaceuticals (NASDAQ: REGN) was upgraded by RBC Capital from a “Sector Perform” rating to an “Outperform” rating. The have a price target of $70.00 on the company.

Allied (ANV) (EGN) (NEE) (SWY) (SYMC) (AKAM) (BMC) Ratings Reiterated

Allied Nevada Gold Corp (NYSE: ANV), Energen (NYSE: EGN), NextEra Energy, Inc. (NYSE: NEE), Safeway Inc. (NYSE: SWY), Symantec (NASDAQ: SYMC), Akamai Technologies (NASDAQ: AKAM) and BMC Software, Inc. (NYSE: BMC) ratings reiterated by analysts.

Dahlman Rose reiterated its "Buy" rating on Allied Nevada Gold Corp. (ANV). They have a price target of $53.76 on the company.

Citigroup (NYSE:C) reiterated its "Buy" rating on Energen (EGN).

Jefferies (NYSE:JEF) reiterated its "Buy" rating on NextEra Energy, Inc. (NEE). They have a price target of $62.50 on the company.

Citigroup reiterated its "Hold" rating on Safeway Inc. (SWY). They have a price target of $23.00 on the company.

JPMorgan Chase & Co. (NYSE:JPM) reiterated an "Overweight" rating on Symantec (SYMC). They have a price target of $26.00 on the company.

Oppenheimer reiterated a "Market Perform" rating on Akamai Technologies (AKAM).

JPMorgan Chase & Co. reiterated an "Underweight" rating on BMC Software, Inc. (BMC). They have a price target of $35.00 on the company.

Lorillard (LO) (MHS) (ERTS) (ATVI) (EXPE) (SYMC) Ratings Reiterated

Lorillard Inc. (NYSE: LO), Medco Health Solutions Inc. (NYSE: MHS), Electronic Arts Inc (NASDAQ: ERTS), Activision Blizzard Inc (NASDAQ: ATVI), Expedia, Inc. (NASDAQ: EXPE) and Symantec (NASDAQ: SYMC) have ratings reiterated by analysts.

Jefferies (NYSE:JEF) reiterated a "Buy" rating on Medco Health Solutions Inc. (MHS).

BMC Equities reiterated a "Hold" rating Research Electronic Arts Inc (ERTS).

Jefferies (NYSE:JEF) reiterated a "Buy" rating on Expedia, Inc. (EXPE).

BMC Equities Research reiterated a "Buy" rating on Activision Blizzard Inc (ATVI). They have a price target of $15.00 on the company.

Citigroup (NYSE:C) reiterated a "Buy" rating on Lorillard Inc. (LO). They have a price target of $122.00 on the company.

Oppenheimer reiterated an "Outperform" rating on Symantec (SYMC). They have a price target of $21.00 on the company.

Price Targets on (SINA) ( M) (STWD) (SUPX) (SYMC) Updated

Price targets on shares of Sina (NASDAQ: SINA), Macy’s (NYSE: M), Starwood Property Trust (NASDAQ: STWD), Supertex, Inc. (NASDAQ: SUPX) and Symantec (NASDAQ: SYMC) updated by analysts.

Goldman Sachs (NYSE:GS) raised their price target on Macy’s (M) to $32.00. They have a “neutral” rating on the company.

Stifel Nicolaus raised their price target on Sina (SINA) from $130.00 to $140.00. They have a “buy” rating on the company.

Deutsche Bank (NYSE:DB) raised their price target on Starwood Property Trust (STWD) from $25.50 to $26.50.

Collins Stewart cut their price target on Supertex, Inc. (SUPX) from $26.00 to $20.00. They have a “hold” rating on the company.

FBR Capital raised their price target on Symantec (SYMC) from $18.00 to $21.00. They have a “market perform” rating on the company.

Ratings on (RIG) (ROST) (SYMC) (TJX) Upgraded

Ratings on shares of Transocean (NYSE: RIG), Ross Stores, Inc. (NASDAQ: ROST), Symantec (NASDAQ: SYMC) and TJX Companies Inc (NYSE: TJX) were upgraded by analysts.

JPMorgan Chase & Co. (NYSE:JPM) upgraded Transocean (RIG) from an “underweight” rating to a “neutral” rating. They have a price target of $70.00 on the company.

Jefferies upgraded Ross Stores, Inc. (ROST) from a “sell” rating to a “hold” rating. They have a price target of $75.00 on the company.

Bank of America (NYSE:BAC) upgraded Symantec (SYMC) from an “underperform” rating to a “neutral” rating. They have a price target of $22.00 on the company.

Jefferies (NYSE:JEF) upgraded TJX Companies Inc (TJX) from a “sell” rating to a “hold” rating. They have a price target of $50.00 on the company.

Price Targets on (SINA) (SYY) (TSO) (WX) (SYMC) Updated

Price targets on shares of Sina (NASDAQ: SINA), SYSCO Co. (NYSE: SYY), Tesoro Co. (NYSE: TSO), WuXi PharmaTech (NYSE: WX) and Symantec (NASDAQ: SYMC) updated by analysts.

Piper Jaffray (NYSE:PJC) raised their price target on Sina (SINA) from $107.00 to $139.00. They have an “overweight” rating on the company.

Citigroup (NYSE:C) raised their price target on SYSCO Co. (SYY) from $30.00 to $34.00. They have a “hold” rating on the company.

Oppenheimer cut their price target on Tesoro Co. (TSO) from $28.00 to $24.00. They have an “outperform” rating on the company.

Jefferies (NYSE:JEF) raised their price target on WuXi PharmaTech (WX) from $20.00 to $22.00.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on of Symantec (SYMC) from $24.00 to $26.00.

Price Targets on (SINA) (SYY) (TSO) (WX) (SYMC) Updated

Price targets on shares of Sina (NASDAQ: SINA), SYSCO Co. (NYSE: SYY), Tesoro Co. (NYSE: TSO), WuXi PharmaTech (NYSE: WX) and Symantec (NASDAQ: SYMC) updated by analysts.

Piper Jaffray (NYSE:PJC) raised their price target on Sina (SINA) from $107.00 to $139.00. They have an “overweight” rating on the company.

Citigroup (NYSE:C) raised their price target on SYSCO Co. (SYY) from $30.00 to $34.00. They have a “hold” rating on the company.

Oppenheimer cut their price target on Tesoro Co. (TSO) from $28.00 to $24.00. They have an “outperform” rating on the company.

Jefferies (NYSE:JEF) raised their price target on WuXi PharmaTech (WX) from $20.00 to $22.00.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on of Symantec (SYMC) from $24.00 to $26.00.

Price Targets on (SYMC) (TRAK) (TRNX) (VQ) (XEC) Updated

Price targets on Symantec (NASDAQ: SYMC), DealerTrack Holdings, Inc. (NASDAQ: TRAK), Tornier BV (NASDAQ: TRNX), Venoco, Inc. (NYSE: VQ) and Cimarex Energy Co. (NYSE: XEC) updated by analysts.

Morgan Keegan raised their price target on Symantec (SYMC) from $18.00 to $20.00. They have a “market perform” rating on the company.

Deutsche Bank (NYSE:DB) raised their price target on DealerTrack Holdings, Inc. (TRAK) from $21.00 to $24.00. They have a “hold” rating on the company.

Bank of America (NYSE:BAC) raised their price target on Tornier BV (NASDAQ: TRNX) to $26.00.

Barclays Capital cut their price target on Venoco, Inc. (VQ) from $25.00 to $20.00. They have an “equal weight” rating on the company.

Barclays Capital cut their price target on Cimarex Energy Co. (XEC) from $143.00 to $131.00. They have an “overweight” rating on the company.

Regeneron (REGN) (HSP) (SYMC) (CMI) (CPLA) get Ratings Initiations

Regeneron Pharms (NASDAQ:REGN), Hospira (NYSE:HSP), Symantec (NASDAQ:SYMC), Cummins (NYSE:CMI) and Capella Education (NASDAQ:CPLA) had analysts initiate coverage on them.

Regeneron Pharms (REGN) was started off with an "Overweight" rating by Barclays Capital, which has a price target of $64 on the company.

Hospira (HSP) was started off with an "Overweight" rating by Barclays Capital, with a price target of $64.

Symantec (SYMC) was initiated with a "Buy" rating by UBS (NYSE:UBS), with a price target of $22 on them.

Cummins (CMI) was initiated at a "Buy" rating by UBS, with a price target of $135.

Capella Education (CPLA) was started off with a "Sector Perform" rating by RBC Capital, which placed a price target of $52 on the company.

Motorola Solutions (MSI), Adobe (ADBE), Symantec (SYMC), Cummins (CMI), Aetna (AET) Executives Join Government Board

A government board put together for the purpose of studying how to streamline the government was added to again, as executives from Motorola Solutions (NYSE:MSI), Adobe Systems (NADSAQ:ADBE), Symantec Corp (NASDAQ:SYMC), Cummins (NYSE:CMI) and Aetna (NYSE:AET) joined the entity.

The administration official releasing the information said the board will advise Obama on how to improve the government's efficiency and effectiveness.

I'm not sure why executives are taking time from their productive work to waste efforts on this, as what part of limiting the size of government doesn't Obama and the majority of politicians in Washington not understand.

They can't continue to kick the can down the road, as the length of the road is coming to an end, and someone has to make the right decisions for this country to economically survive.

Those named to the board are Aetna (NYSE:AET) Chairman Ronald Williams, Symantec (NASDAQ:SYMC) CEO Enrique Salem, OSI Restaurant Partners (OSI.UL) CEO Elizabeth Smith and Cummins (NYSE:CMI) CEO Tim Solso.

Other executives named to the board include BET Networks CEO Debra Lee, Motorola Solutions Chief Executive Greg Brown, Adobe CEO Shantanu Narayen Sabre Holdings (TSG.UL) CEO Sam Gilliland, former Pfizer Inc (NYSE:PFE) CEO Jeffrey Kindler and American Red Cross CEO Gail McGovern.

Symantec (NASDAQ:SYMC) is Back Says FBR

Symantec (NASDAQ:SYMC) had been wavering, as they struggled to recover from the effects of the recession. They seem to have finally gotten legs, says FBR, are now "back on track."

FBR says, "With Symantec benefiting from stability in its storage management business and strength within its other segments (consumer, DLP, backup, etc.), the company was able to post very impressive top-line, deferred revenue/ bookings, and cash flow results for the quarter, an important step in the right direction that will give investors increased confidence that this once derailed recovery story is back on track, in our opinion."

"For F4Q11 (March), we are increasing our revenue and pro forma EPS estimates to $1.60 billion and $0.35 versus our prior estimates of $1.57 billion and $0.34. For FY12, we are increasing our revenue and pro forma EPS estimates to $6.51 billion and $1.52, up from our prior estimates of $6.49 billion and $1.50."

FBR Capital maintains a "Market Perform" rating on Symantec (SYMC), which was trading at $18.52, up $0.72, or 4.06 percent, as of 1:18 PM EST. FBR raised their price target on them from $16 to $18.

Microsoft (Nasdaq:MSFT), Citrix Systems (Nasdaq:CTXS), Symantec (Nasdaq:SYMC), Top 2011 Software Picks of Deutsche Bank (NYSE:DB)

Microsoft (Nasdaq:MSFT), Citrix Systems (Nasdaq:CTXS) and Symantec (Nasdaq:SYMC) were named as the top software picks of 2011 by Deutsche Bank (NYSE:DB).

Deutsche says, "Our top picks for 2011 are MSFT, SYMC & CTXS. At 9x EV/FCF, we continue to believe that the downside is limited for MSFT and it could benefit from a Windows 7 enterprise refresh cycle in 2011. At 8x C2011 EV/FCF, we think expectations are low for SYMC and any improvement in execution and growth could yield solid stock performance. CTXS continues to lead the virtual desktop space and we believe that acceleration in VDI adoption could drive growth above expectations. At 19x 2011 EV/FCF, we believe the risk-reward is attractive. Risks include slowdown in IT spending."

Microsoft (MSFT) was trading at $28.44, down $0.22, or 0.75 percent, as of 12:14 PM EST. Citrix Systems (CTXS) was trading at $67.81, down $0.08, or 0.12 percent. Symantec (SYMC) was trading at $18.01, down $0.20, or 1.13 percent.

Adobe (Nasdaq:ADBE), Symantec (Nasdaq:SYMC), VeriSign (Nasdaq:VRSN), BMC (NYSE:BMC) Top Software Picks of Citigroup (NYSE:C)

Adobe (Nasdaq:ADBE) continues to be the "Top Pick" in the software sector by Citigroup (NYSE:C), continuing on with their call from the middle of December. Other top software picks by Citigroup are Symantec (Nasdaq:SYMC), VeriSign (Nasdaq:VRSN) and BMC (NYSE:BMC).

For BMC Software, Citi called them their "growth at a reasonable price" idea.

Concerning Symantec, they were identified as the "Top Value" idea by the giant bank.

VeriSign was singled out as the "Top Growth" software stock in the sector.

Adobe was trading at $33.69, gaining $0.71, or 2.15 percent, as of 2:34 PM EST. Citigroup has a price target of $42 on Adobe. BMC Software was trading at $47.60, up $0.23, or 0.49 percent. Symantec was at $17.72, up $0.63, or 3.69 percent. VeriSign was trading down $32.56, losing $0.21, or 0.64 percent.