NVDA, MU, HRB Stocks Upgraded Today

H & R Block stock is eyeing annual highs after impressive earnings

Jun 14, 2017 at 9:18 AM
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Analysts are weighing in on semiconductor stocks NVIDIA Corporation (NASDAQ:NVDA) and Micron Technology, Inc. (NASDAQ:MU), as well as tax solutions specialist H & R Block Inc (NYSE:HRB). Here's a quick roundup of today's bullish brokerage notes on shares of NVDA, MU, and HRB.

Goldman Sachs Predicts 13% Rally From NVDA Stock

Goldman Sachs raised its price target on Nvidia stock to $171, predicting all-time highs for the chipmaker. Shares of NVDA closed yesterday at $151.40, after touching a record high of $168.50 on June 9, and sport a year-to-date gain of almost 42%. Meanwhile, it's not a bad time to buy short-term Nvidia options, whether it be puts or calls. This is according to the stock's Schaeffer's Volatility Index (SVI) of 44%, which ranks in the bottom one-third of readings from the past year. Said differently, near-term options are pricing in low volatility expectations at the moment. 

Credit Suisse Doesn't Believe MU Stock is Done Yet

Micron stock is also in analysts' crosshairs, with Credit Suisse reiterating its "outperform" rating, saying the company's beat-and-raise potential hasn't peaked yet. MU shares have been riding their 50-day moving average higher over the past year, closing Tuesday at $31.54 -- up from a perch near $12 a year ago. Most analysts already share Credit Suisse's bullish outlook. By the numbers, 15 of 16 brokerage firms say to buy Micron Technology stock. 

HRB Stock Set for Post-Earnings Rally

H&R Block stock is on pace for a huge day -- up 9.9% ahead of the open, and set to open at a 52-week peak -- thanks to strong fiscal fourth-quarter earnings. In response, Credit Suisse increased its price target to $29, one of at least three brokerage firms to raise its outlook. HRB stock had been rallying coming into today, hitting an annual high of $27.36 on June 2, before closing yesterday at $26.99. The shares could keep gaining, too, if short sellers continue to hit the exits. Specifically, short interest fell by 7% in the last reporting period, but 11.4% of the stock's float is still controlled by short sellers, representing 11.1 times HRB's average daily pace of trading. 

 

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