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Investors, even the veteran ones, have differing views about following analysts’ recommendations. While, it is never advisable to take your portfolio decision based on only analysts’ recommendations, it certainly helps to keep track of market’s opinion about a security. However, not all analysts are created equal. As a rule of thumb, I maintain a list of reliable analysts and follow their reports. Further, I always carry out my own analysis and back that up by reading on experts’ opinion. So, here is my list of major upgrade recommendations made by top research firms:
Cognizant Technology Solutions (NASDAQ:CTSH): The stock has received rating upgrade from Credit Suisse. Its new rating is at Outperform, up from Neutral. Credit Suisse also upped the price target for the stock from $75. Its new price target is at $85 and the stock is currently trading at $64.88, up 0.92 percent from its previous close of $64.29. It has traded in the range of $53.92 and $78.00 in the past 52 weeks. The company offers information technology solutions. It also provides consulting services to various industries. Cognizant recently reported its third quarter results, and its revenue grew 18.2 percent to $1.89 billion. The company’s net income for the quarter stood to 91 cents per share. The stock is trading at the Price Earnings ratio of 19.61. However, the stock is trading above its 20 days moving average price of $64.81 and 50 days moving average price of $64.72.
The Dow Chemical Company (NYSE:DOW): Goldman Sachs upped the rating for the stock to Buy. Earlier, it was rated Neutral and its new price target is $36. The stock’s earlier price target was $32. The Dow Chemical Company manufactures and markets chemical products. The company offers its products and services to various industries such as semiconductor, infrastructure and agriculture. It is based out of Midland in Michigan and the company was formed in 1897. The Dow Chemical Company stock is currently trading at $27.89, down 1.37 percent from its previous close of $28.28. The stock is trading at the Price Earnings ratio of 21.59. It has traded in the range of $24.42 and $36.08 in the past 52 weeks. However, the stock is trading below its 20 days moving average price of $27.94 and 50 days moving average price of $28.03.
Hot Topic Inc. (NASDAQ:HOTT): The apparel company reported 38 percent increase in its 3rd quarter income and the good quarterly results were followed by upgrade in rating by Piper Jaffray. The company stock is currently trading at $9.15, up 6.89 percent from its previous close of $8.56. The stock had opened at $9.04 and has traded in the range of $8.83 and $9.25 in the current trading session. Hot Topic stock commands the Price Earnings ratio of 26.02. The company’s net income for the third quarter stood at $4.3 million. It had earned $3.1 million in net income for the corresponding quarter of the last year. On per share basis, its net income was reported at 10 cents, up from 7 cents per share in net income for the previous year quarter. Its revenue increased 2 percent to $179.4 million. The company was expected to report its revenue at $182.9 million. The stock’s new rating by Piper Jaffray is Overweight and its new price target is $11.
Time Warner Cable Inc. (NYSE:TWC): The stock has been upgraded by JPMorgan Chase. Its new rating is overweight and the stock’s new price target is $110. Time Warner Cable’s earlier price target was $110. Time Warner Cable is currently trading at $90.42, up 1.27 percent from its previous close of $89.29. It has traded in the range of $57.15 and $100.50 in the past 52 weeks. Time Warner Cable reported that it witnessed good growth in net subscribers’ numbers for the fourth quarter. The company, however, maintained the cautious stance. The company also said that it has signed a new deal with NBA Knicks, NHL Rangers and Madison Square Garden. The company would be sponsoring a number of concerts to be held in Madison Square Garden. The stock is trading at the Price Earnings ratio of 12.98. However, the stock is trading above its 20 days moving average price of $90.48 and 50 days moving average price of $90.78.
