TECH STOCKS: Zulily Rises, GoPro Awaits Public Debut

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks mostly retreated Thursday, with the notable exception of online retailer Zulily Inc., on a day in which many investors await the public debut of digital-sport camera maker GoPro Inc.

Zulily (ZU) rose almost 3% to $40.97 after RBC Capital Markets analyst Mark Mahaney raised his rating on the online retailer of clothing for children and women to outperform from sector perform. Mahaney cited high customer-satisfaction data and expansion beyond children's apparel among the reasons for his upgrade. Mahaney left his $50-a-share price target on Zulily's stock unchanged.

It was the second upgrade in as many days for Zulily. On Wednesday, Goldman Sachs analyst Debra Schwartz raised her rating on Zulily to buy from neutral and lifted her price target to $50 a share from $47.

Other mild gains came from Twitter Inc. (TWTR), Groupon Inc. (GRPN), Yahoo Inc. (YHOO) and Hewlett-Packard Co. (HPQ)

Many eyes were expected to focus on GoPro (GPRO) after the digital camera company set an IPO price of $24 a share late Wednesday. The company raised $427 million after offering 17.8 million shares for sale.

The tech-heavy Nasdaq Composite Index (RIXF) fell 20 points to 4,359, while the Philadelphia Semiconductor Index (SOX) was off by almost 1%.

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