Notable Analyst Actions: Lionsgate (LGF), Abercrombie & Fitch (ANF), Splunk (SPLK), Pacific Sunwear (PSUN)

B. Riley said Lionsgate (NYSE:LGF)’s Q4 miss was somewhat due to timing issues and the firm believes the company’s growth prospects remain intact. The firm lowered its price target on the stock to $35 from $38, but maintains its Buy rating and recommends shares by bought on the pullback.

Abercrombie & Fitch (NYSE:ANF) upgraded to Buy from Outperform at CLSA CLSA upgraded Abercrombie & Fitch based on better than expected Q1 sales, improving merchandising, and better productive U.S. stores. Price target is $47.

Credit Suisse said Splunk (NASDAQ:SPLK) reported strong April results and was encouraged by traction in larger deals with both new and existing customers and penetration of its existing user base. The firm continues to view Splunk as a top idea given its massive market opportunity, disruptive technology and early adoption of Big Data technologies. Shares are Outperform rated with a $85 price target, down from $105.

DA Davidson cut its price target on Pacific Sunwear (NASDAQ:PSUN) after the company reported stronger than expected Q1 results but provided weaker than expected Q2 guidance. The firm expects the company’s revenue to rebound swiftly swiftly once consumers return to malls for summer and back to school shopping. It reiterates a Buy rating on the stock.

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