Analyst Upgrades: BlackRock, Hartford Financial, Southern Copper

Analysts upwardly revised their ratings and price targets on BlackRock, Inc. (NYSE:BLK), Hartford Financial Services Group Inc (NYSE:HIG), and Southern Copper Corp (NYSE:SCCO)

Karee Venema

Jan 26, 2016 at 9:29 AM

Analysts are weighing in on financial firms BlackRock, Inc. (NYSE:BLK) and Hartford Financial Services Group Inc (NYSE:HIG), as well as copper producer Southern Copper Corp (NYSE:SCCO). Here's a quick roundup of today's bullish brokerage notes on BLK, HIG, and SCCO.

Morgan Stanley and Deutsche Bank took differing views on BLK overnight, with the former upping its price target to $370 from $360, and the latter lowering its target price to $338 from $340. Overall, most analysts maintain a price target that falls in the middle of this range, with BLK's consensus 12-month target docked at $349.41. Technically, the shares have surrendered roughly 21% since hitting their late-November high of $364.87. More recently, BlackRock, Inc.'s rebound attempt was quickly halted at the $300 mark -- a level that served as support earlier this month -- with the stock closing last night at $289.72.

HIG has also had its fair share of struggles on the charts of late -- last seen lingering near $37.63, after two stern rejections near the $49-$50 region in August and October 2015. Atlantic Equities is keeping the faith, though, and boosted its outlook on the shares to "overweight," sending HIG up 1.7% in electronic trading. Most analysts are already in Hartford Financial Services Group Inc's corner, with nine out of 14 maintaining a "buy" or better rating, and not a single "sell" to be found.

J.P. Morgan Securities raised its rating on SCCO to "overweight" from "neutral," while simultaneously lowering its price target on the shares to $29 from $31.50. However, the latter still represents a 23.5% premium to last night's close at $23.49. In the options pits, meanwhile, skepticism is high toward a stock that's shed 29.5% since topping out at an annual high of $33.31 last May. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, Southern Copper Corp's 10-day put/call volume ratio of 12.41 ranks in the 72nd percentile of its annual range.

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