Enough is enough said the major banks with respect to the economic meltdown and started to look on the bright side of the markets. TheStreet announced that Apple Inc. (NASDAQ:AAPL), Micron Technology, Inc. (NASDAQ:MU) and CBS Corporation (NYSE:CBS) could be seeing 15%, 30% and 20% increase in price per share accordingly. It might be a good time to venture into long positions in the companies as they are currently amid a dive of almost 3%, 3% and 1.1% respectively.
“Micron Technology was upgraded to OVERWEIGHT from neutral at JP Morgan. The firm said it raised its rating on strong demand fundamentals, disciplined capacity outlook and attractive valuations. The price target is set at $36 a share, that’s about a 30% upside from where the stock is currently trading,” said Susannah Lee.
However, as the S&P 500 goes almost 2.3% below its yesterday’s closing value down to a price of approximately $1834.3, we can sense that there’s a bit of turmoil settled in the economy. Probably, this is what’s holding Apple Inc. (NASDAQ:AAPL) from its long ago predicted boom. Micron Technology, Inc. (NASDAQ:MU) and CBS Corporation (NYSE:CBS) are more volatile with respect to the market as their beta is approximately 1.7 and 1.8, compared to the Cupertino, California-based tech mammoth’s beta of around 0.9.
“Citi upgraded CBS to BUY from NEUTRAL saying a recent pullback makes CBS attractive given its valuation, the 12-month price target is $60, that’s a 20% increase. Apple is now on Morgan Stanley’s ‘best ideas’ list. Analysts at the firm cited strong iPhone 6 demand and its expansion into new product categories. Morgan Stanley has an OVERWEIGHT rating with a $110 price target for Apple” added Susannah Lee.
Due to little facts at our disposition, no further inferences can be made with respect to the three stocks above. However, bull could be getting on the asset train while it has slowed down.
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