Equities researchers at BMO Capital Markets raised the price target of Markit Ltd. (NASDAQ: INFO) shares from $41.00 to $43.00 in a research note to investors today and reiterated a rating of Outperform on the stock.
The much anticipated comments from Federal Reserve Chairwoman Janet Yellen came on Friday.
Yellen said the case for another interest-rate hike is strengthening, sending a strong signal the U.S. central bank is preparing to increase rates as soon as next month.
The market responded first positively and thenswung back to losses across all three major indices.
The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,395.
The S&P 500 fell around 3 points, or 0.16 percent, to 2,169.
The Nasdaq climbed 7 points, or 0.13 percent, to end the week at 5,219.
NYMEX crude oil futures fell 0.02 percent to $47.32 while Brent contracts added 0.06 percent to $49.70.
Natural gas futures climbed 0.35 percent on the session and finished the week at $2.86.Precious metals were mixed on Friday.
COMEX gold futures were basically unchanged at $1,324.50.
Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Markit Ltd. (NASDAQ: INFO) opened at $36.45 and traded in a range between, $36.41 and $37.07 yesterday, and last traded at $37.06, which represents a change of $ 0.50 over the previous closing price.
Markit Ltd. (NASDAQ: INFO) currently has a market cap of 6.51B
The stock’s average daily volume is 1,576,270 shares out of a total float 162,702,000 of and some 1,541,161 shares crossed the trading desk yesterday.
Look for increasing trading volume in trading activity today and going forward.
This is an excellent indicator of heavy volume accumulation from institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Markit Ltd. (NASDAQ: INFO) now has a 50-day MA is $35.27 and 200-day MA is $33.13, and it has traded in a 52-week range between $26.01 – 37.07
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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