Analyst Update: Aceto Corporation, Mobileye NV, and Delphi Automotive PLC

Analysts adjusted their ratings on Aceto Corporation (ACET), Mobileye NV (MBLY), and Delphi Automotive PLC (DLPH)

by Mark Fightmaster

Published on Jul 16, 2015 at 1:43 PM

Analysts are weighing in today on pharmaceutical firm Aceto Corporation (NASDAQ:ACET), camera software manufacturer Mobileye NV (NYSE:MBLY), and automotive parts company Delphi Automotive PLC (NYSE:DLPH). Here's a quick look at today's brokerage notes on ACET, MBLY, and DLPH.

  • ACET is significantly higher this afternoon thanks to some new coverage from Craig-Hallum. The brokerage house initiated coverage on Aceto Corporation with a "buy" rating and a $30 price target -- in uncharted territory. Thanks to this news, the stock hit an all-time high of $26.83, and was last seen up 13.8% at $26.43. This news propelled the shares through their 10- and 20-day moving averages, which had bullied ACET lower since the end of June. Short sellers could be hitting the bricks, as short interest represents more than seven sessions' worth of pent-up buying demand, at the equity's average pace of trading. However, ACET isn't the only biotech stock muscling higher in the face of skepticism...
  • MBLY is also benefiting from an analyst note. Barclays upped Mobileye NV's price target to $76 from $66 and underscored an "overweight" rating. The software concern is more than 2% higher at $61.01 thanks to the news, and earlier notched a record best $61.66. Barclays' move comes in the wake of a similar move from Baird last week, and echoes the optimism on the Street. Currently, nine out of 11 analysts offer up "buy" or better ratings. More than 12.5% of MBLY's float is sold short, and it would take nearly a week for the bears to cover the pessimistic positions. This data suggests MBLY may enjoy a short-covering rally.
  • Our final news tidbit comes from DLPH. The automotive parts company is more than 4% lower at $77.31 this afternoon, due to some negative notes from Barclays. Specifically, the brokerage cut Delphi Automotive PLC to "equal weight" from "overweight" and slashed its price target to $81 from $99. This was part of a broader move where Barclays took its downgrade stick to the automotive sector, revising its rating to "negative" from "neutral" amid risks in China. DLPH's drop has it resting on potential support from their 10-month moving average. Today's negative attention is relatively rare for the stock, as 10 of the 14 tracking the equity rate it a "buy" or better. 

A Schaeffer's exclusive

TOP STOCK PICKS 2020

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Ulta Stock Moves Lower on New Coronavirus Measures
Ulta has closed all of its stores until further notice
Johnson & Johnson Stock Scaling Dow After COVID-19 Vaccine Update
Johnson & Johnson hopes to have 1 billion doses available by early 2021
IRA/401k: The Crash-Proof Retirement Plan
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.