Analyst Upgrades: AK Steel, Intuitive Surgical, SunEdison

Analysts issued bullish notes on AKS, ISRG, and SUNE

Oct 17, 2014 at 9:01 AM
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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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