Technologies, Companhia Vale do Rio Doce and Agere Systems. CHICAGO--(BUSINESS WIRE)--Sept. 11, 2006 Zacks.com announces the list of stocks featured in the Analyst Blog. Every day, the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Double Eagle Petroleum (Nasdaq: DBLE), Akamai Technologies (Nasdaq: AKAM), Companhia Vale do Rio Doce (NYSE: RIO) and Agere Systems (NYSE: AGR). See the latest posts to the Analyst Blog by visiting: http://at.zacks.com/?id=2673 Here are highlights from Friday's Analyst Blog: Initiating DBLE as a Buy We are initiating coverage on Double Eagle Petroleum (Nasdaq: DBLE) with a Buy recommendation and a 12-month price target of $28. The company's Rockies-focused natural gas-heavy asset base offers a balanced mix of low-risk development drilling opportunities and high-risk/high-reward exploration prospects. We believe that Double Eagle is currently at the starting point of a multi-year growth phase, with 2009 production expected to be nearly 10 times fiscal '05 levels. This growth will come entirely through an existing pipeline of drilling opportunities. Success on the company's high-risk deep exploratory tests this year would offer additional upside. Akamai Downgraded On September 6th, we downgraded Akamai Technologies (Nasdaq: AKAM) to Hold as the stock has reached our $40 price target. Fundamentally, we believe the company is well positioned in its market and will benefit from industry growth. However, without a meaningful increase to forward estimates, we are hard-pressed to raise our price target beyond our new six-month price target of $42.00. RIO Pricing Favorable Companhia Vale do Rio Doce, or CVRD (NYSE: RIO) reported second-quarter EPS of $0.77, well above our expectations of $0.63 and higher than the year-ago level of $0.71, amid strong demand and higher prices of iron ore, aluminum and non-ferous minerals. Global economic growth, particularly in China, is driving demand for minerals, especially iron ore. Demand is outpacing supply, thereby increasing prices. CVRD stands to benefit from higher prices in iron ore and aluminum. The company has also been making significant investments to increase production capacity to support stronger worldwide demand. Moreover, the economic outlook in its domestic country, Brazil, is showing improvement. We reiterate our Buy rating on RIO. Revenue Growth at Agere Agere Systems (NYSE: AGR) is an OEM of semiconductor devices used within the storage, mobility and networking end markets. Third quarter revenue was just short of the consensus estimate, while the bottom line beat the estimate by a wide margin. Forward guidance calls for a 2% to 5% revenue growth in the next quarter. Revenue growth is the lynchpin in Agere's success story, since management has completed all actions to reduce costs. The market sentiment surrounding the stock is very positive. Consequently, we are reiterating our Buy rating on AGR shares. See the latest posts to the Analyst Blog by visiting http://at.zacks.com/?id=2645 About Zacks Equity Research Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term. Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons. Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=2674. About Zacks Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros. CONTACT: Zacks.com Terry Ruffolo, 312-630-9880, ext. 213 www.zacks.com
Zacks Analyst Blog Highlights: Double Eagle Petroleum, Akamai
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