MKM Partners Increases Alcatel Lucent Price Target to $4.25 (ALU)
Equities researchers at MKM Partners hoisted their target price on shares of Alcatel Lucent (NYSE:ALU) from $3.75 to $4.25 in a research report issued on Thursday, Stock Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price target would indicate a potential upside of 10.97% from the stock’s previous close.
Shares of Alcatel Lucent (NYSE:ALU) traded up 16.06% during mid-day trading on Thursday, hitting $3.83. 60,323,404 shares of the company’s stock traded hands. Alcatel Lucent has a one year low of $0.91 and a one year high of $3.61. The stock has a 50-day moving average of $3.56 and a 200-day moving average of $2.40. The company’s market cap is $8.699 billion. Alcatel Lucent also was the target of unusually large options trading on Monday. Stock investors purchased 15,317 call options on the company. This represents an increase of 147% compared to the typical daily volume of 6,207 call options.
Alcatel Lucent (NYSE:ALU) last released its earnings data on Thursday, October 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.04. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted ($0.06) earnings per share. Alcatel Lucent’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Alcatel Lucent will post $-0.47 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ALU. Analysts at Barclays upgraded shares of Alcatel Lucent from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, October 14th. Separately, analysts at Raymond James downgraded shares of Alcatel Lucent from a “strong-buy” rating to a “market perform” rating in a research note to investors on Thursday, October 3rd. They now have a $3.50 price target on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Alcatel Lucent from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, September 13th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $2.57.
Alcatel Lucent is engaged in mobile, fixed, Internet Protocol (NYSE:ALU) and optics technologies, applications and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.