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Analyst Upgrades: ORCL, THC, and WFM

Analysts upwardly revised their ratings on Oracle, Tenet Healthcare, and Whole Foods Market

by 6/29/2012 9:04 AM
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Analysts are weighing in today on software giant Oracle Corporation (NASDAQ:ORCL - 28.17), hospital stock Tenet Healthcare Corporation (NYSE:THC - 5.25), and organic grocer Whole Foods Market, Inc. (NASDAQ:WFM - 93.72). Here's a quick roundup of today's bullish brokerage notes.

  • RBC upgraded ORCL to "outperform" from "sector perform," and raised its price target to $36 from $33. The stock has gained 1.6% ahead of the bell, but ORCL's momentum could fizzle near the $28.50 level. This area is home to the equity's 160-day moving average, which has acted as resistance since early April. Over the past 52 weeks, the shares have shed 14.4% of their value.

  • On the heels of Thursday's Obamacare ruling, THC was raised to "outperform" from "market perform" at Wells Fargo. As a result, the shares have advanced 3.8% in pre-market trading, with THC now on track for a Friday finish atop its 10-week and 20-week moving averages -- which will be its first weekly victory over both trendlines since mid-March.

  • BMO hiked its price target on WFM to $105 from $95, and reiterated its "outperform" recommendation. The upwardly revised target implies expected upside of 12% from Thursday's close at $28.17. The stock has already gained nearly 35% so far in 2012, with WFM easily outperforming the broader equities market. The average 12-month price target for the grocer currently stands at a modest $98.33, so there could be additional bullish notes in store as the positive price trend continues.

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