Two Winning Analyst Rating Trades for June 15
Analyst ratings didn't fail to move stocks in their implied directions today. 12 out of 13 stocks subjected to upgrades appreciated from the opening prices. Four of them have edged down since, but 12 out of 13 before lunch is no small feat.
Here are two of today's highest-return moves with respective rating firms"
JP Morgan on SAIC
JP Morgan upgraded SAIC (NYSE: SAI) from Neutral to Overweight with a $13 price target. Shares opened at $11.88 and reached a high of $12.42 minutes at 12:00pm, a 3.3 percent gain. Benzinga reported this change at 6:03 AM.
Citigroup on Nokia
Citigroup upgraded Nokia Corporation (NYSE: NOK) from Sell to Neutral after shares experienced tough trading yesterday. NOK opened at $2.36 and reached $2.49 by 11:36 AM, a 5.5 percent gain in a little over two hours. Benzinga reported this change at 5:59 AM.
Had one traded these and the rest of the lower-return upgrades this morning with our scenario of $5,000 position per trade, the profit before lunch would have equaled over $1,300, for a money-weighted average of 2.1 percent.
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Latest Ratings for SAI
|Oct 2013||Jefferies||Initiates Coverage on||Hold|
|Oct 2013||Wells Fargo||Initiates Coverage on||Underperform|
|Oct 2013||JP Morgan||Initiates Coverage on||Overweight|
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