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: Tesoro Corp. (NYSE: TSO), Saks Inc. (NYSE: SKS), Celanese Corporation (NYSE: CE), Palm, Inc. (Nasdaq: PALM) and Research in Motion Ltd. (Nasdaq: RIMM).

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Here are highlights from Thursday’s Analyst Blog:

Tesoro Maintains Buy Rating

We are maintaining our Buy recommendation, but lowering our estimates and price objective for San Antonio-based Tesoro Corporation (NYSE: TSO) — an independent refiner and marketer of refined petroleum products in the western U.S. — to reflect the still-challenging refining margin environment.

Our new 2009 EPS estimate is $1.27, down from $2.30 before, while our 2008 estimate remains unchanged. Despite the near-term challenges, our long-term view of the business remains favorable as we believe that the company is in a good position with a strong balance sheet, and has the ability to fund capex [capital expenditures] with operating cash flows.

Saks Inc. Down at Fair Value

Saks Incorporated (NYSE: SKS) is a national retailer operating traditional and luxury department stores. The company reported disappointing results for the third quarter and issued a gloomy outlook for the fourth quarter and 2009. Management indicated that the "current macroeconomic and retail environment is unprecedented," and it is taking decisive measures on inventory levels, costs, and capital expenditures.

The company’s results deteriorated throughout the third quarter and trends are not improving. Saks shares look dirt cheap, trading at less than book value and with a price-to-sales ratio of just 0.1x. Using that EPS estimate, SKS shares are trading at about 33x.

Celanese a Near-Term Hold

The Dallas-based global hybrid chemical company Celanese Corporation (NYSE: CE) has a strong growth strategy with development in Asia as a key factor. There is $400 million of free cash flow per year, primarily focused on share repurchase.

However, Celanese is likely to face slackening demand in 2008-2009 due to a global economic slowdown, combined with exceptionally high raw material and energy costs. Major raw materials are natural gas, ethylene and methanol. As the economy slows, the company will find it difficult to pass these to customers.

PALM Target Lowered to $2

Palm, Inc. (Nasdaq: PALM) has been growing unit volume as a result of continued popularity of its Centro smartphones. The launch of its Treo 800W gives it a more competitive offering at the high-end of the market.

Although Palm has surprised us by posting better-than expected results for the second quarter, the maturing lifecycle of Centro and product transition issues led the company to lower expectations for the second quarter. We continue to believe that Palm badly trails Research in Motion Limited (Nasdaq: RIMM) in the smartphone market and will not be able to effectively compete as an independent company.

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