Chris Lau, Kapitall: 4 big-name technology companies received a bump in their target price. The upgrade may have contributed to the upward price movement recently. Investors agreeing with the upside in these companies might want to wait for shares to pull-back, before entering a position. The reason is that the target price upgrade may have temporarily inflated the share price. [Related lists: Why Expect More Price Swings from These 4 Biotechs]
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
The companies to watch are:
Analysis1) Hewlett-Packard Company (HPQ) Analysts raised the target price in shares of Hewlett-Packard by 3.75%. From the 16 analysts covering HP, the current target price rose to $16.73. HP closed well-above the target, trading recently at $20.15 after reporting quarterly results that were not as poor as feared. Investors could be getting too optimistic for the battered company, although HP made a few moves recently. The company sold the very costly webOS and IP-related property to LG (LPL). LG plans to use the operating system in its smart TVs. HP also announced its embrace for the Android operating system. The company will be selling a 7-inch tablet for just $170, underpricing tablets from Amazon.com (AMZN) and Google’s Nexus (GOOG). 2) Autodesk, Inc. (ADSK). Analysts raised their target of 3D software maker Autodesk by 4.88% to $42.15. Autodesk closed recently at $37.36. On February 25 2013, the company reported Q4 earnings of $0.53 per share, beating consensus by $0.04. Revenue rose just 2% from the previous year to $607M, beating analyst estimates by $20.84M. Autodesk guided Q1 below consensus. Analysts expected an EPS of $0.51 on revenue of $590.6M, but Autodesk guided EPS of $0.41 – $0.46 on revenue of $570M to $590M. In Q4, platform solutions sales dropped 7%, while media/entertainment sales declined 16%. Sales to Asia-Pacific rose 11% and manufacturing sales increased 5%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV