Analyst Upgrades: AK Steel, Intuitive Surgical, SunEdison

Analysts issued bullish notes on AKS, ISRG, and SUNE

Oct 17, 2014 at 9:01 AM

Analysts are upwardly revising their ratings today on industrial metals issue AK Steel Holding Corporation (NYSE:AKS), robotic surgery specialist Intuitive Surgical, Inc. (NASDAQ:ISRG), and solar energy concern SunEdison Inc (NYSE:SUNE). Here's a quick look at today's bullish brokerage notes on AKS, ISRG, and SUNE.

Nomura raised its rating on AKS to "buy" from "neutral," and simultaneously hiked its price target to $10 from $7. After closing Thursday at $5.76, down nearly 30% for the year, shares of AK Steel Holding Corporation have rallied 4.9% ahead of the open. Most analysts are unimpressed with the technical laggard, as AKS has garnered only three "strong buy" recommendations, compared to seven "holds" and one "strong sell."

ISRG scored an upgrade to "outperform" from "market perform" at Leerink Swann, and the firm also bumped up its price target to $560 from $450 -- implying expected upside of 22.7% from the stock's Thursday close at $456.51. Such a move wouldn't be out of the question for Intuitive Surgical, Inc., which has gained nearly 19% year-to-date. However, most brokerage firms expect ISRG to stall out just shy of the $500 century mark, with the equity's average 12-month price target arriving at $495.42. Looking ahead, ISRG is set to report its third-quarter earnings after the market closes next Tuesday, Oct. 21.

Cowen upped its opinion on SUNE to "outperform" from "market perform," sending the stock to a pre-market gain of 6.6%. The brokerage firm also raised its target on SunEdison Inc to $24 from $20, compared to the security's closing price of $15.57 last night. The $24 region is a significant one for SUNE, as the stock peaked here in mid-July before embarking on a 36% decline over the ensuing three months. Unlike Cowen, plenty of short sellers are betting on SUNE to extend its losses, with no less than 26.4% of the equity's float dedicated to short interest.

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