Notable Upgrades: Great Basin (GBSN), Kate Spade (KATE), ULTA Salon (ULTA), Tiffany (TIF), BioMarin (BMRN)

In a report published Wednesday, Dawson James analysts initiated coverage on Great Basin Scientific, Inc. (GBSN) with a ‘Buy‘ rating and $10 price target.  The firm notes the company has recently received FDA marketing clearance for its second diagnostic assay, for Group B Strep infections, and expects the molecular diagnostic testing company to begin marketing the test as soon as this quarter.

On valuation measures, Great Basin Scientific Inc. shares currently have a price-to-sales ratio of 9.25. EPS is ($17.33). Over the past year, shares of Salt Lake City, Utah-based firm have traded between a low of $1.48 and a high of $9.08 and are now at $3.93. Shares are up 18.70% year-to-date.

Analysts at BB&T Capital Markets are out with a report this morning upgrading shares of Kate Spade & Company (KATE) with a ‘Buy‘ rating. The firm set the price target for the company to $35, noting current category concerns are overblown and valuation appealing.

Kate Spade & Co. shares are currently priced at 56.44x this year’s forecasted earnings, which makes them rather expensive compared to the industry’s 27.03x earnings multiple. Ticker has a forward P/E of 28.33 and t-12 price-to-sales ratio of 2.90. EPS for the same period is $0.45.

In the past 52 weeks, shares of the New York-based company have traded between a low of $24.07 and a high of $42.87. Shares are down 28% year-over-year and 16.81% year-to-date. Ticker is currently trading at $25.34 on 3.6 million shares.

Analysts at Buckingham Research upgraded their rating on the shares of ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA). In a research note published on Wednesday, the firm lifted the name with a ‘Buy‘ rating.

Currently there are 11 analysts that rate ULTA a ‘Buy‘, 4 rate it a ‘Hold‘. No analyst rates it a ‘Sell‘. ULTA has a median Wall Street price target of $170.50 with a high target of $180.00.

Tiffany & Co. (TIF) was reiterated a ‘Buy’ by Topeka Capital Markets analysts on Wednesday. The broker also raised its price target on the stock to $110 from $100.

TIF shares recently gained $10.24 to $95.77. In the past 52 weeks, shares of the New York-based retailer have traded between a low of $82.64 and a high of $110.60. Shares are down 10.04% year-over-year and 20% year-to-date.

BioMarin Pharmaceutical Inc. (BMRN) was reiterated as ‘Overweight’ with a $140 from $125 price target on Wednesday by JP Morgan (JPM).

BMRN shares recently gained 1.96 to $129.07. JPM’s target price suggests a potential upside of about 9% from the company’s current $128.90 stock price.

Over the past year, shares of the New York-based firm have traded between a low of $55.36 and a high of $133.54. The name has gained 125.05% in the last 52 weeks, while the S&P 500 has gained 10.18%.

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