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3 Stocks Getting Upgrades Before Earnings Season
Economic news has dominated the landscape for at least the last month, and despite the market's rise, it hasn't been pretty. But with a new quarter's corporate earnings now ready to be announced, hope is once again simmering in the corridors of Wall Street. Whether that leads to further gains - or whether prices are already discounting the best to come - is an open question. But for some specific stocks, the news is brightening. The following issues have all had an analyst upgrade in the last few days. And that can only help going into fourth quarter reporting season.
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Keep Your Eye on this Stock
The Cooper Companies, Inc. (NYSE:COO) is in the business of manufacturing healthcare and medical devices, particularly for the contact lens and vision correction market as well as surgical and diagnostic products for gynecologists and obstetricians.
Cooper stock pays a nominal 0.1% annual dividend and trades with a price/earnings ratio of 22.75. Year-to-date, they've climbed by over 22%, and in the last full year they're up 63.5%. That beats the broader healthcare sector by a long shot, as represented by the SPDR Health Care ETF (NYSE:XLV), which has gained just 7.2% in the past twelve months. (To learn more, see Investing In The Healthcare Sector.)
BMO Capital Markets just upgraded the company from "market perform" to "market outperform," and boosted the share target to $55 on the strength of sales of the company's Biofinity contact lenses.
Cooper shares currently trade at just over $46.
No Edsels Here
Ford Motor Company (NYSE:F) stock is also moving higher. Year-to-date, the shares are up over 28%, and for the full year, almost 90%. That's a whole lot better than every broad market index, including the Dow Industrials, which boasts a full year gain of just 13%, as measured by the index's proxy, the SPDR Dow Jones Industrial Average ETF (NYSE:DIA).
Analysts at Morgan Stanley just initiated coverage on Ford stock with an overweight rating and a $20 price target. The shares are now trading below $13.
PNC Financial Services (NYSE:PNC) shares were just given a buy rating by Collins Stewart with a new price target of $70. The shares are currently trading at just over $52 with a P/E of 10.0. PNC shares are up 17.5% in the last year.
The Wrap
Great past performance no doubt influenced these analysts to raise ratings on these three stocks. But the quarter ahead could prove just as promising now that the targets have been raised.
Use the Investopedia Stock Simulator to trade the stocks mentioned in this stock analysis, risk free!
IN PICTURES: 7 Millionaires By Marriage
Keep Your Eye on this Stock
The Cooper Companies, Inc. (NYSE:COO) is in the business of manufacturing healthcare and medical devices, particularly for the contact lens and vision correction market as well as surgical and diagnostic products for gynecologists and obstetricians.
Cooper stock pays a nominal 0.1% annual dividend and trades with a price/earnings ratio of 22.75. Year-to-date, they've climbed by over 22%, and in the last full year they're up 63.5%. That beats the broader healthcare sector by a long shot, as represented by the SPDR Health Care ETF (NYSE:XLV), which has gained just 7.2% in the past twelve months. (To learn more, see Investing In The Healthcare Sector.)
BMO Capital Markets just upgraded the company from "market perform" to "market outperform," and boosted the share target to $55 on the strength of sales of the company's Biofinity contact lenses.
No Edsels Here
Ford Motor Company (NYSE:F) stock is also moving higher. Year-to-date, the shares are up over 28%, and for the full year, almost 90%. That's a whole lot better than every broad market index, including the Dow Industrials, which boasts a full year gain of just 13%, as measured by the index's proxy, the SPDR Dow Jones Industrial Average ETF (NYSE:DIA).
Analysts at Morgan Stanley just initiated coverage on Ford stock with an overweight rating and a $20 price target. The shares are now trading below $13.
PNC Financial Services (NYSE:PNC) shares were just given a buy rating by Collins Stewart with a new price target of $70. The shares are currently trading at just over $52 with a P/E of 10.0. PNC shares are up 17.5% in the last year.
The Wrap
Great past performance no doubt influenced these analysts to raise ratings on these three stocks. But the quarter ahead could prove just as promising now that the targets have been raised.
Use the Investopedia Stock Simulator to trade the stocks mentioned in this stock analysis, risk free!
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