Analysts upwardly revised their ratings and price targets on Chevron Corporation (CVX), AK Steel Holding Corporation (AKS), and Lumber Liquidators Holdings Inc (LL)
Analysts are weighing in on oil giant
Chevron Corporation (NYSE:CVX), steel stock
AK Steel Holding Corporation (NYSE:AKS), and flooring retailer
Lumber Liquidators Holdings Inc (NYSE:LL). Here's a quick roundup of today's bullish brokerage notes for CVX, AKS, and LL.
- CVX is on pace for a higher open, thanks to an upgrade to "overweight" at Morgan Stanley. Still, the shares will be within the $98-$106 range that they've been churning in since mid-April, closing Monday at $104.75. Most analysts share Morgan Stanley's upbeat outlook, though, with 12 of 18 brokerage firms giving Chevron Corporation a "buy" or better rating, and none handing out a "sell." What's more, CVX's average 12-month price target of $114.25 stands in territory not seen since late 2014.
- Barclays is expecting extended upside for AKS, lifting its price target on the stock to $6 from $5. The shares were last spotted at $5.20, putting them 132% higher year-to-date. Even with this ridiculous technical performance, short interest continues to climb on AKS. In fact, just under 30% of the stock's float is now sold short, which equates to 7.3 days' worth of buying power, going by AK Steel Holding Corporation's average daily volume.
- LL is eyeing a 1.4% drop at the open, as the stock's post-earnings woes look set to continue. Even a price-target hike to $14.50 from $13.60 at Jefferies has failed to help much, though this does represent a discount to last night's close at $15.51. On a more positive note, it looks like Lumber Liquidators Holdings Inc's 200-day moving average -- currently sitting just below the $15 mark -- could hold up as support. Not to mention, LL's 14-day Relative Strength Index (RSI) now sits in oversold territory at 28, meaning the shares could be in store for a short-term pop.
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