Stocks are in-between earnings seasons, and analyst upgrades and new price targets are rolling out. With earnings reports for the third quarter of 2010 on the horizon, here's a look at five stocks that have seen recent upgrades.
Apple (AAPL)Tech giant Apple (AAPL - Get Report) received good news last week when three analysts confirmed their high opinions of Apple's stock. Ben Reitzes of Barclays cited strong iPad sales as one reason for maintaining his $340 price target for Apple. "We continue to believe Apple's valuation is very attractive and that shares can benefit, driven by strong iPad demand, a new iPhone upgrade cycle, significant international expansion and a continuous pipeline of new innovation," Reitzes told investors.
Likewise, Maynard Um of UBS and Gene Munster of Piper Jaffray reiterated their buy recommendations for Apple. Um upped his initial price target of $340 to $350, while Munster held strong on his initial price target of $371. The Jaffray analyst claimed that Apple's target would be even higher if not for its unavailability on the Verizon (VZ) network.
With iPad and iPhone 4 sales red hot entering holiday season, Apple is garnering positive feedback from numerous analysts and that could bode well for the stock.
Hewlett-Packard (HPQ)Fresh off the purchase of tech company 3Par, Hewlett-Packard (HPQ - Get Report) is in the news again after announcing the proposed purchase of ArcSight (ARST), a software security company. The purchase has caused Standard & Poor's analyst Thomas Smith to restate his buy status of HPQ stock.
Hewlett-Packard will announce its earnings on Nov. 22, and Smith believes the stock will report earnings of $4.51. "We believe ArcSight's security and compliance management software would enhance HPQ's enterprise computing offerings, if the deal is completed as planned by yearend," Smith said.