This past week was a roller-coaster, and the 369 point gain in the Dow Jones Industrial Average on Friday took the Dow and S&P 500 back to where they closed up only about 0.1% on average for the entire week. Despite post-terrorism and weaker European Central Bank news selling, what investors are proving over and over is that they want to buy strong stocks on weakness.
24/7 Wall St. reviews dozens of analyst upgrades and downgrades each day of the week. It turns out in the past week that there were many big analyst projections via upgrades, initiations and reiterated coverage with Buy and Outperform ratings in the key technology stocks. Some of these analyst calls even came with much more than 8% to 15% upside projections that you might see in Dow stocks.
Investors need to consider that many analyst reports do not materialize the way they were expected to, and some analyst calls simply have the wrong assumptions. 24/7 Wall St. has offered up nine stocks getting big analyst calls last week in technology sector for more aggressive investors. Links have been provided if these were covered more in-depth.
Avago Technologies Ltd. (NASDAQ: AVGO) surged after beating earnings, and pulled up acquisition target Broadcom Corp. (NASDAQ: BRCM) along with it. Shares were up over $10 on the news and hit almost $147 at one point that day, only to close the week out at $147.56. Many analysts lifted targets handily: Merrill Lynch raised its price objective to $180; Morgan Stanley raised its price target to $160; Oppenheimer raised its target to $170; RBC raised its target to $155; Topeka raised its target to $153; and UBS raised its target to $185. 24/7 Wall St. has more details on analyst coverage.
HP Inc. (NYSE: HPQ) was given a very solid post-split endorsement from the independent research firm Argus on Thursday. The firm reiterated its Buy rating on HP, and the $16.00 price target implied close to 35% in total return if things pan out the way Argus is hoping. The firm sees higher PC market share and company efforts to keep the ship running tight potentially generating upside in sales last next year. Full details are available on that call.