Analyst Upgrades: LinkedIn Corp, QUALCOMM, Inc., and Kroger Co

Analysts upwardly revised their ratings on LinkedIn Corp (LNKD), QUALCOMM, Inc. (QCOM), and Kroger Co (KR)

by Elizabeth Harrow

Published on Dec 4, 2015 at 9:13 AM
Updated on Jun 24, 2020 at 10:16 AM

Analysts are weighing in on professional networking site LinkedIn Corp (NYSE:LNKD), wireless tech specialist QUALCOMM, Inc. (NASDAQ:QCOM), and grocery giant Kroger Co (NYSE:KR). Here's a quick roundup of today's bullish brokerage notes on LNKD, QCOM, and KR.

  • Nomura started coverage of LNKD with a "buy" rating and $290 price target, sending the stock up 2.5% ahead of the bell. Shares of LinkedIn Corp have managed a 4.2% gain in 2015, and settled Thursday at $239.44 -- toward the low end of their month-long range between the $235 and $255 areas, which LNKD has been traveling since its post-earnings bull gap on Oct. 30. Most analysts are already firmly entrenched in the bullish camp for LNKD, as the stock sports 82% "buy" or better ratings.
  • QCOM is up 1.2% ahead of the bell, after Pacific Crest initiated coverage with an "overweight" rating and a $64 price target. The target represents a premium of 24.5% to QUALCOMM, Inc.'s Thursday close at $51.40, but it's hardly out of reach for the stock -- QCOM traded in the mid-60s as recently as August. That said, the stock's momentum isn't exactly bullish right now. QCOM is off nearly 31% year-to-date, compared to a roughly 9% gain for the tech-focused PowerShares QQQ Trust (QQQ). In fact, most bears have already taken their profits on QCOM's recent slide, with short interest down more than 41% over the past two reporting periods to account for only 1.2% of the equity's float.
  • On the heels of Thursday's well-received earnings report, KR has scored four price-target hikes this morning. Guggenheim and JPMorgan Securities both upped their estimates to $45, while BB&T boosted its target to $44, and Barclays set a forecast of $40. After surging 4.7% yesterday to close at $39.91, Kroger Co shares have added another 0.5% ahead of the open. Analysts have high hopes for the stock, as the average 12-month price target checks in at $43.08 -- a few points north of KR's freshly tagged record high of $40.33.
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