RIM Upgraded by Analysts and 3 Heavily Traded Stocks Moving Today
Boston Scientific Corporation (NYSE:BSX): After Citigroup analyst Matthew Dodds upgraded their stock from Neutral to Buy, Boston Scientific Corporation is rising. Durata cables (used to connect defibrillators to the heart) made by St. Jude (NYSE:STJ), a competitor of Boston Scientific, will likely be withdrawn from the market within six months as they can fray when they rub against another object. Boston Scientific will benefit significantly from this removal. If Durata cables are removed from the market, Boston Scientific will receive 41% of the $338 million in revenue that St. Jude would lose, the analyst predicted. Medtronic (NYSE:MDT) will garner 29% of St. Jude’s lost sales, Dodds stated. The analyst increased his price target on Boston Scientific from $5.30 to $7.30.
Yahoo! Inc. (NASDAQ:YHOO): Today, Yahoo! Inc. saw a 2% gain in their stock. Goldman Sachs put the company on their conviction buy list in light of “recent clarity” from the company’s expected turnaround.
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Research In Motion Limited (NASDAQ:RIMM): CIBC World Markets upgraded Research In Motion Ltd. to a speculative sector outperformer, which is the firm’s equivalent of a buy rating, based on prospects for the company’s new BlackBerry 10 debuting on Jan. 30. Analyst Todd Coupland had rated the company a sector underperformer. CIBC hikedtheir price target on Research in Motion from $8 a share to $17 .
Alcatel Lucent SA (NYSE:ALU): After Bloomberg reported that Alcatel Lucent SA is having discussions with the Goldman Sachs Group for a loan to strengthen their balance sheet, the company stock climbed 10% in regular trading this past Friday. Monday, Alcatel Lucent SA’s stock surged 4.55% to $1.15 in pre-market trading.
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