Analysts revised their ratings and price targets on Micron Technology, Inc. (MU), Children's Place Inc (PLCE), and Lowe's Companies, Inc. (LOW)
Analysts are weighing in on semiconductor stock Micron Technology, Inc. (NASDAQ:MU), as well as retail stocks Children's Place Inc (NASDAQ:PLCE) and Lowe's Companies, Inc. (NYSE:LOW). Here's a quick roundup of today's brokerage notes on MU, PLCE, and LOW.
- MU is up 4.7% today to trade at $10.12 -- though this is little solace for shareholders, who've watched the stock fall 61.5% year-over-year. Plus, the shares remain below their pesky 80-day moving average. As for today's price action, it comes as a result of a price-target increase to $11 from $10 at Bernstein. Analysts as a whole are split on Micron Technology, Inc., with 13 calling it a "buy" or better and 11 rating it a "hold" or worse.
- After a 4.1% post-earnings pop on Tuesday, PLCE is up another 3.5% today at $73.52. Helping the shares is an upgrade to "buy" at Goldman Sachs, which also threw bullish comments in the direction of Tesla Motors Inc (NASDAQ:TSLA). While Children's Place Inc maintains a strong year-to-date lead on the charts, the shares have cooled since hitting a record high of $84.91 in early April -- though they appear to have found a foothold atop their rising 100-day moving average. Short sellers will be watching this price action closely, since almost 19% of PLCE's float is sold short -- translating into more than a week's worth of pent-up buying power, at the stock's typical volumes.
- LOW continues to move higher following this morning's earnings beat and better-than-expected full-year forecast. The stock is up 3.5% at $78.71, after earlier topping out at an all-time high of $79.49. What's more, Piper Jaffray earlier today raised its price target to $94 from $93. Three-fourths of analysts already recommend buying LOW -- while none deem it a "sell" -- but options trading took a bearish turn ahead of earnings. Specifically, Lowe's Companies, Inc.'s 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 2.21 -- in the 87th annual percentile.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Tesla Motors Inc, Charter Communications, Inc., and TJX Companies Inc and Analyst Downgrades: Vipshop Holdings Ltd, Tiffany & Co., and Western Digital Corp.