Winning Trades Based on Analyst Ratings for June 19
Ten equity research reports had new Buy ratings from analysts this morning. Below are the stocks that moved the most on the new ratings by the time the news was were reported on by Benzinga Professional.
Ladenburg Thalmann on Layne Christensen
Ladenburg Thalmann initiated Layne Christensen (NASDAQ: LAYN) with a Buy rating and a price target of $25 a share. The stock opened at $19.92 and reached a high of $20.67 two minutes into the open, for a 3.77 percent pop. This rating change was reported on Benzinga Professional at 7:40 AM, nearly two hours ahead of open. A preview of this report is available here.
Stifel Nicolaus on Nova Measuring Instruments
Stifel Nicolaus initiated Nova Measuring Instruments (NASDAQ: NVMI) with a Buy rating and a price target of $11. Shares opened at $8.35 and moved to $8.68, 3.95 percent, by 11:07 AM on thin trading. Benzinga reported this at 7:51 AM. See this report's preview here.
Stifel Nicolaus on Healthcare Services Group
In another big-move rating, Stifel Nicolaus upgraded Healthcare Services Group (NASDAQ: HCSG) from Hold to Buy and announced a $21 price target. The first trade on the stock was at $19.10 a share, and the intraday high was at $19.78, a move of 3.56 percent. This rating change was reported at 7:52 AM on Benzinga Professional. A preview of this report can be found here.
There were seven other new Buy-or-equivalent ratings - a total of ten signals - that were ripe for long positions at open (buying shares). All ten would have worked at different spans before lunch. With our usual assumption of a maximum $5,000 position on each, a trader would have made a gross profit of $1,017 as of the time of this writing (a 1.84 percent return on invested funds). If traders had held on to these positions, only four would be in the red currently, bringing the intraday profit to a still positive $260.
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