Why Traders Are Clamoring for These 5 Stocks This Morning

Going Private Proposal Lifts Concord Medical Shares

Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) has surged by 10% today after its Board of Directors received a non-binding proposal letter from Mr. Jianyu Yang, chairman and CEO of the company, as well as Morgancreek Investment Holdings Limited, an investment vehicle controlled by Mr. Yang, and other entities which have offered $5.19 per ADS in cash in a proposed going private transaction, subject to certain conditions. Traders are eager to see how Concord’s Board of Directors will respond. Two top funds in our database were long Concord Medical Services Hldg Ltd (ADR) (NYSE:CCM) at the end of March.

Resolute Energy Rises on Upgrade

Analysts at Wunderlich gave the thumbs up to Resolute Energy Corp (NYSE:REN) today, upgrading the stock to ‘Buy’ from ‘Hold’. Wunderlich also raised its price target to $8 per share from $4. Not surprisingly, shares of Resolute are up by 20% in morning trading, continuing the stock’s surge from Friday, when Resolute announced an agreement to sell its Permian Basin mid-stream assets for a considerable sum. Four elite funds were bullish on Resolute Energy Corp (NYSE:REN) as of the most recent 13F reporting period.

Sentiment Improving at Lloyds 

Last but not least, Lloyds Banking Group PLC (ADR) (NYSE:LYG) is 4.5% higher this morning as sentiment around the bank improves. Although Britain’s decision to leave the EU will certainly hurt the bank and its profits, Lloyds shares have already fallen sharply on the news (by around one-third) and it seems that much of the bad news has already been priced in. If Britain or the EU doesn’t enter a recession or if Britain can work out a deal with the EU to remain the financial capital of Europe, Lloyds could be a good long-term hold, assuming management executes. Seven elite funds that we track were long Lloyds Banking Group PLC (ADR) (NYSE:LYG) at the end of March, up from five funds long the stock on December 31.

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