Stocks quoted in this article:
Analysts are weighing in today on semiconductor stock Marvell Technology Group Ltd. (NASDAQ:MRVL - 10.89), grocery chain The Fresh Market, Inc. (NASDAQ:TFM - 51.37), and data storage specialist Western Digital Corporation (NASDAQ:WDC - 32.47). Here's a quick roundup of today's bullish brokerage notes.
- JMP Securities raised its rating on MRVL to "market outperform" from "market perform," sending the stock to a pre-market gain of 4.7%. However, the stock's rally attempt could be thwarted by its 40-day moving average, which is currently located at $11.38. MRVL hasn't managed a daily close above this trendline since April 26. Despite the equity's substantial year-to-date loss of 21.4%, analysts remain surprisingly optimistic. Currently, MRVL sports 16 "buy" or better ratings, compared to just nine "holds" and zero "sells."
- Deutsche Bank upgraded TFM to "buy" from "hold," on the heels of last night's well-received earnings report from rival chain Whole Foods Market (NASDAQ: WFM). TFM has vaulted to a gain of 7.7% in pre-market action, building on its impressive 52-week rise of 44.3%. Thanks to this early boost of positive momentum, TFM is on track to regain a foothold above its 20-week moving average. As of Wednesday's close, the stock was in danger of ending the week below this trendline for the first time since January.
- Meanwhile, WDC has scored no fewer than seven price-target hikes this morning, as the brokerage community cheers last night's stronger-than-expected quarterly results. Evercore Partners has the highest hopes for the tech stock, with the firm raising its target to $50 from $44 -- implying expected upside of nearly 54% to Wednesday's close at $32.47. By comparison, BMO's upwardly revised target of $36 seems stingy... especially since WDC has rallied 17% ahead of the open, putting the shares on pace to open around the $38 level.
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