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Analysts are upwardly revising their ratings today on media mogul Time Warner Inc (NYSE:TWX), data storage provider SanDisk Corporation (NASDAQ:SNDK), and precious metals name Goldcorp Inc. (USA) (NYSE:GG). Here's a quick look at today's bullish brokerage notes on TWX, SNDK, and GG.
- On the heels of an unsuccessful buyout bid for the company, TWX has attracted a few bullish brokerage notes. Guggenheim and Janney both upgraded the stock to "buy," with the latter firm also hiking its fair value to $100. Meanwhile, ISI Group raised its price target to $92 from $77, while RBC lifted its own target to $76 from $73. After settling Wednesday's session at $83.13 -- up 17% for the day -- shares of Time Warner Inc are 1% higher in pre-market action. Additional bullish notes could be on the horizon for TWX, as the equity's average 12-month price target stands at just $76.35.
- Last night's disappointing third-quarter revenue forecast has SNDK down more than 7% ahead of the open, but no fewer than six analysts have upwardly revised their price targets on the tech name -- although J.P. Morgan Securities, Morgan Stanley, and Baird only raised their targets as high as $100. As a point of reference, SanDisk Corporation closed at $107.83 yesterday. Jefferies has the highest hopes for SNDK, lifting its target to $125. (Meanwhile, RBC, Wedbush, and Pacific Crest all cut their price targets on the stock.) As Wall Street reacts to SNDK's unexpectedly soft guidance, the shares are now at risk of notching a daily close beneath their 10-day and 20-day moving averages for the first time since April 16.
- Credit Suisse raised its price target on GG to $32 from $31, implying expected upside of 16.8% to yesterday's close at $27.39. Shares of Goldcorp Inc. (USA) have rallied 26.4% so far in 2014, but have topped out twice in the $29.50 region -- once on March 14, and again last Thursday. Most analysts seem to be betting that GG can rally past this looming technical roadblock, as the gold stock has racked up 59% "buy" ratings.