Following a strong earnings report from WebMD (WBMD), both Citigroup and Goldman Sachs revised their estimates. Citigroup upgraded the stock from Hold to Buy and set a new price target of $49 per share citing strong revenue growth. And Goldman bumped up its price target to $35 per share to reflect the strong quarter, but still maintains a sell rating on the stock.
In morning trading, shares of WebMD were moving higher, gaining more than five percent on the news.
JMP Securities initiated coverage on shares of Best Buy (NYSE:BBY) with an Outperform rating. The firm sees the consumer returning to the marketplace and this should bode well for the electronics retailer. With the Outperform rating, JMP set a price target of $45 per share.
Shares of Best Buy were showing modest gains on the upgrade, trading higher by one half of one percent.
And Adobe Systems (NASDAQ:ADBE) saw its shares upgraded by FBR from Market Perform to Outperform ahead of the Creative Suite 5 product rollout. With the share price falling over the last month, the firms sees value at these levels and has set a price target of $39 per share.
In morning trading, shares of Adobe were on the move, gaining about one and a half percent so far.
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