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)

Dec 4, 2015 at 9:13 AM
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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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