Stocks quoted in this article:
Analysts are weighing in today on data storage guru EMC Corporation (NYSE:EMC - 24.20), agricultural chemical specialist Monsanto Company (NYSE:MON - 80.89), and biotech stock Orexigen Therapeutics, Inc. (NASDAQ:OREX - 4.92). Here's a quick roundup of today's bullish brokerage notes.
- The stock has pulled back substantially from its March highs, but EMC today was resumed at "outperform" by Wells Fargo. Most brokerage firms have already boarded the equity's bullish bandwagon, with EMC boasting 26 "buys" out of 28 analyst ratings. In fact, J.P. Morgan today cut its price target on EMC to $32 from $33, but backed its "overweight" recommendation. The shares are now looking to challenge their 10-day and 20-day moving averages, which have pressured EMC south since early April.
- On the heels of the company's well-received quarterly results, MON scored a price-target hike to $94 from $89 at Canaccord Genuity. The freshly hiked forecast implies expected upside of 16.2% to Wednesday's close at $80.89. MON is up 15.4% year-to-date, but the shares are now staring up at resistance in the $81-$84 neighborhood. This region has capped the stock's rally attempts throughout 2012.
- OREX was upgraded to "overweight" from "neutral" at J.P. Morgan, helping the stock to a pre-market gain of more than 8%. The low-priced shares have already surged about 206% so far in 2012, and OREX rallied yesterday on news of a major regulatory approval for sector peer Arena Pharmaceuticals (NASDAQ:ARNA). If OREX continues to catch a halo lift, additional upgrades could be in store; currently, the shares sport just two "buys" out of six total brokerage recommendations.