Why Blackberry, BBCN Bancorp And Targa Are Trending On Wall Street
Blackberry Ltd (NASDAQ:BBRY) shares are up over 2% in pre-market trading this morning following an announcement that the USDA (United States Department of Agriculture) is expanding their Agriculture Automatic Warning Information Response System (Ag-AWaIRS) to protect the Farm Services Agency. The technology helps notify USDA staff about emergencies through communications such as SMS and mobile devices. The response system is jointly deployed by Evergreen Information Technology Services and AtHoc, a division of Blackberry. On another note, analyst Rod Hall of J.P. Morgan upgraded the stock this morning from Underweight to Neutral, maintaining his $9. He attributes his upgrade to the company's recent earnings report, which revealed revenue improvements.
According to TipRanks' statistics, out of the 12 analysts who rated Blackberry in the past 3 months, 2 gave a Sell rating while 10 remain on the sidelines. The average 12-month price target for the stock is $7.27, marking a 15% downside from where shares last closed.
BBCN Bancorp Inc (NASDAQ:BBCN) was trading up 1.3% in pre-market trading this morning to $16.24 after analyst Julianna Balicka of Keefe Bruyette upgraded the stock. The analyst upgraded the company to Outperform and raised her price target to $20 from $16.50. She attributes her bullish stance due to the company's merger with Wilshire Bancorp (WIBC), which she believes will only benefit the company and its positioning. According to TipRanks' statistics, Julianna Balicka has a 63% success rate recommending stock with an average return of 9.6% per recommendation.
Targa Resources Partners LP (NYSE:NGLS) is down 8% in pre-market trading this morning following a downgrade by John Edwards of Credit Suisse. The analyst downgraded the stock from Outperform to Underperform and slashed his price target from $79.00 to $36. Edwards attributes his bearish stance to his belief that the company will cut its dividend. He states, "We see no way out of the woods for TRGP without a substantial dividend cut."
According to TipRanks' statistics, out of the 3 analysts who have rated NGLS in the last 3 months, 1 gave a Buy rating, 1 gave a Sell rating, and 1 remains on the sidelines. The average 12-month price target for the stock is $30.50, marking a 99% upside from where shares last closed.
Latest Ratings for BBRY
|Sep 2016||Morgan Stanley||Maintains||Equal-Weight|
|Sep 2016||Credit Suisse||Maintains||Underperform|
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