The Upgrades: Dana Holding, Take-Two and Research in Motion (NYSE: DAN),(NASDAQ: TTWO),(NASDAQ: RIMM)
Dana Holding Corporation (NYSE:DAN) comes to use today with a nice upgrade from JP Morgan, raising their outlook on the stock from Neutral to Overweight. Morgan set a price target of $16, for the stock that is currently trading at $10.43 a share. That is a generous target at over +50%. The stock for the auto parts company gapped up today to open at $10.24 versus yesterday’s close of $9.64. The chart for the stock is showing some good signs as the stock has made a rapid increase over the past few weeks, increasing its overall relative strength. Shares are currently trading for $10.47 which is +$0.83 (+8.61%). Live chart:
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) actually received two upgrades today. The first comes from Kaufman Bros upgrade the stock from a Sell to a Hold. Then, Sterne Agee upgrade Take-Two from a Neutral to a Buy, tagging the stock with a price target of $13. The stock gapped up nicely today to open at $9.27 which is up sharply from yesterday’s close of $8.25 per share. Take-Two shares took a nose dive gap down in early December, so investors in the stock are likely quite happy for the gap up today to recoup some losses from the gap down. Shares are currently changing hands for +1.04 to $9.29 (+12.61%). Live chart:
Research In Motion Limited (USA) (NASDAQ:RIMM) hails to us today with much news on the analyst coverage. Deutsche Bank was the upgrade for today, raising their outlook from Sell to Hold and setting a price target for $75. Standpoint Research initiated coverage on RIMM, setting their outlook as a Hold. Broadpoint AmTech Research reiterated their outlook on the stock as a Buy with a price target of $80. RIMM had a gap down in price back in late September which the share price has yet to recover from, although the gap up today ($71.34 versus yesterday’s close of $63.46) is a step in the right direction. The stock’s technical patterns look good as shares rebounded the $60 level as could expected from the April gap up to that same $60 level. In the short term, a reasonable technical standpoint would see the shares rise back up the $85 level to test the resistance set at that level in June and September. Shares are currently going for $69.18, +$5.72 for a solid +9.01% on the day. Live chart:
Disclosure: No positions.