HSBC upgraded shares of Spreadtrum Comms (NASDAQ: SPRD) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning. The firm currently has $23.00 price target on the stock, up from their previous price target of $20.00.
Shares of Spreadtrum Comms traded down 3.51% during mid-day trading on Monday, hitting $17.60. Spreadtrum Comms has a one year low of $12.63 and a one year high of $23.20. The stock’s 50-day moving average is currently $16.31. The company has a market cap of $837.3 million and a P/E ratio of 10.13.
A number of other firms have also recently commented on SPRD. Analysts at JPMorgan Chase cut their price target on shares of Spreadtrum Comms to $20.00 in a research note to investors on Wednesday, February 27th. Separately, analysts at Nomura cut their price target on shares of Spreadtrum Comms from $21.70 to $18.00 in a research note to investors on Wednesday, February 27th. They now have a neutral rating on the stock. Finally, analysts at Bank of America reiterated a neutral rating on shares of Spreadtrum Comms in a research note to investors on Wednesday, February 27th. They now have a $18.18 price target on the stock, up previously from $17.83.
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