Zacks Analyst Blog Highlights: Consolidated Edison, Inc., Pride International, Inc., Companhia de Bebidas das Americas, Anheuser-Busch Companies Inc. and Semtech Corp.

CHICAGO--(BUSINESS WIRE)--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: Consolidated Edison, Inc. (NYSE: ED), Pride International, Inc. (NYSE: PDE), Companhia de Bebidas das Americas (NYSE: ABV), Anheuser-Busch Companies Inc. (NYSE: BUD) and Semtech Corp. (Nasdaq: SMTC).

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Here are highlights from Tuesday’s Analyst Blog:

ConEd with a Mixed Outlook

New York City-based Consolidated Edison, Inc., a.k.a. ConEd (NYSE: ED) is a diversified utility holding company with subsidiaries engaged in both regulated and unregulated businesses. Stable regulated utility operations, gains from the sale of generation projects, a reasonably strong balance sheet, strong cash flow, regulated rate increases and earnings from non-regulated businesses collectively make Consolidated Edison a conservative income-based investment story.

ED offers an above-industry average dividend yield, competitive with Treasury yields. However, the issues of future electricity sales growth, rising cost structure, and increasing capital expenditure continue to restrain valuation.

Pride International Impresses

Houston, Texas-based Pride International, Inc. (NYSE: PDE) is a leading offshore contract driller with operations in many of the active oil and natural gas basins of the world, including South America, the Gulf of Mexico (GoM), West Africa, the Mediterranean Sea, the Middle East and Asia Pacific.

Pride reported solid third-quarter results, cautioned of near-term softness in the GoM jackup market, and announced plans to divest its shallow-water GoM fleet to become a pure-play deepwater driller.

AmBev Upgraded to Buy Rec

Companhia de Bebidas das Americas, or AmBev (NYSE: ABV), is the largest beverage company in South America. It posted positive results for the third quarter, with excellent results in the key Brazilian beer segment. We expect continued solid results in future quarters. InBev’s desire to acquire Anheuser-Busch (NYSE: BUD) appears to be positive for the company.

Despite the difficult economic environment throughout the world due to the global credit crunch, the company, which is focusing on low cost, daily use products, is not tied directly to the international economic cycle. AmBev has good growth prospects, above-average profitability, a history of good results, dominant position in Latin America and increasing geographical diversification. We are changing our recommendation on AmBev from Hold to Buy.

Semtech Corp. Has a $20 Target

Semtech Corporation (Nasdaq: SMTC) is a fabless supplier of analog and mixed signal semiconductor devices. Management has been diversifying the product portfolio, introducing new high-margin products and broadening the customer base. July quarter revenue was in-line with consensus estimates, while the EPS exceeded.

Forward guidance is for a 0-4% revenue increase in the October quarter. With backlog increasing again in Q2, we do not expect results to fall short of guidance. Both revenue growth and margin expansion are expected as new product platforms gain traction.

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