2 Stocks With Upgrades: VRSN, ELX
NEW YORK (
) -- These
received upgrades from
TheStreet Ratings
on Monday:
VeriSign
(VRSN) - Get Report
and
Emulex
(ELX)
.
VeriSign
The Internet infrastructure company reported third-quarter profit last week of $240 million, or 32 cents a share, an increase from earnings a year earlier of $132 million, or 17 cents.
ThinkEquity analysts raised their price target on the company to $44 from $42 on Friday.
"Management has indicated intention to potentially increase expense rates and infrastructure spending targeting advanced and highly specialized domain security services, while the M&A strategy continues to focus on fit with the domain management business, and quality of revenue," ThinkEquity analysts said in a report.
Shares of VeriSign were upgraded to a
on Monday by
TheStreet Ratings
.
VeriSign gets a B- grade from
TheStreet Ratings
with a
price target. Shares closed at $36.32 on Friday.
Emulex
The data-storage company on Thursday reported fiscal second-quarter profit of $15 million, or 17 cents a share. A year earlier, Emulex posted a loss of $41 million, or 47 cents.
ThinkEquity analysts upgraded the stock to a buy with a $12 price target in part because "we now believe ELX has workarounds in place to address a potential loss of its lawsuit with
Broadcom BRCM."
The analysts continued: "This represented ELX's second consecutive quarter of strong results not only against street expectations but also vis-a-vis its competition. We are impressed with ELX's recent stability and track-record and attribute it to much stronger execution at the company."
Shares of Emulex were upgraded to a
rating on Monday by
TheStreet Ratings
.
TheStreet Ratings
gives Emulex a
. The stock closed Friday at $10.66.
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-- Written by Alexandra Zendrian
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