Analysts upwardly revised their ratings and price targets on Texas Instruments Incorporated (TXN), Hormel Foods Corp (HRL), and Resolute Energy Corp (REN)
Analysts are weighing in on semiconductor stock
Texas Instruments Incorporated (NASDAQ:TXN), food specialist
Hormel Foods Corp (NYSE:HRL), and oil-and-gas stock
Resolute Energy Corp (NYSE:REN). Here's a quick roundup of today's bullish brokerage notes on TXN, HRL, and REN.
- TXN saw its price target increased to $80 from $75 at RBC, and more bullish attention could come the stock's way. After all, 16 of 23 brokerage firms rate the shares a "hold" or worse, despite their 28% year-to-date advance. While off 0.2% this morning at $70.16, Texas Instruments Incorporated is a chip-shot from 16-year high territory, and sits just below its average 12-month price target of $71.57.
- Credit Suisse upgraded its opinion on HRL to "outperform," and raised its price target to $43 from $38, citing favorable conditions in the industry. As such, the stock has jumped 3% to trade at $39.81, breaking into positive year-to-date territory. Plus, the 60-week moving average has served as support for the past four months. Hormel Foods Corp short sellers don't seem concerned, though. By the numbers, 10% of the stock's float is sold short, which equals 12 days' worth of buying power, at HRL's average daily volumes.
- REN is nearly 4% lower out of the gate, despite a price-target hike to $25 from $15 at Wunderlich. The stock has absolutely exploded in recent weeks, thanks in part to a surprisingly strong earnings report earlier this month. For instance, Resolute Energy Corp closed June south of $3, but was hovering at $18.27 at last check. This blistering pace had pushed REN's 14-day Relative Strength Index (RSI) to 90 by last Friday's closing bell, which is well into overbought terrritoy. As such, today's drop shouldn't be too surprising.
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