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Analyst Upgrades: AUXL, MRVL, and ZION

Analysts upwardly revised their ratings on Auxilium, Marvell, and Zions Bancorporation

by 6/5/2012 8:59 AM
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Analysts are weighing in today on biotech stock Auxilium Pharmaceuticals, Inc. (AUXL - 21.91), chip specialist Marvell Technology Group Ltd. (MRVL - 12.02), and regional lender Zions Bancorporation (ZION - 17.61). Here's a quick roundup of today's bullish brokerage notes.

  • After unveiling well-received drug data on Monday, AUXL today scored a couple of price-target hikes. MKM Partners upped its target to $25 from $21 and backed its "buy" rating, while Jefferies raised its price target to $30 from $24 and affirmed its own "buy" recommendation. The shares soared more than 16% to start the week, and AUXL is now within striking distance of its current annual high of $22.55. Additional bullish notes could be on the horizon, as the equity's average 12-month price target stands at just $22.67 -- less than one point north of Monday's close at $21.91.

  • JMP Securities upgraded MRVL to "market perform" from "market underperform," representing a relatively rare tepid opinion on the tech stock. Currently, the shares boast 17 "buy" or better ratings from brokerage firms, compared to just seven "holds" and one "sell." With MRVL down 13.2% year-to-date -- and with the stock staring up at stubborn short-term resistance from its 10-day and 20-day moving averages -- some of these bullish analysts may eventually be forced to admit defeat.

  • Just one day after the stock was cut to "market perform" at FBR, ZION was upgraded to "buy" from "neutral" at D.A. Davidson. The shares on Monday broke below tenuous support at their 180-day moving average, but ZION could be looking to reclaim this trendline in today's session. The stock is up 0.9% ahead of the bell, adding to its respectable year-to-date gain of 8.2%.

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