Jefferies Group Increases Spansion Price Target to $18.50 (CODE)
Investment analysts at Jefferies Group increased their price objective on shares of Spansion (NASDAQ:CODE) from $16.00 to $18.50 in a note issued to investors on Wednesday, AnalystRatings.Net reports. Jefferies Group’s price target points to a potential upside of 4.58% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee initiated coverage on shares of Spansion in a research note on Monday, April 14th. They set a “buy” rating and a $25.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Spansion from $18.00 to $23.00 in a research note on Monday, April 7th. They now have an “overweight” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Spansion from $17.00 to $20.00 in a research note on Monday, March 17th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.97.
Shares of Spansion (NASDAQ:CODE) opened at 17.69 on Wednesday. Spansion has a 52 week low of $9.70 and a 52 week high of $18.89. The stock’s 50-day moving average is $17.72 and its 200-day moving average is $14.97. The company’s market cap is $1.068 billion.
Spansion (NASDAQ:CODE) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.18. The company had revenue of $311.80 million for the quarter, compared to the consensus estimate of $307.37 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 64.5% on a year-over-year basis. Analysts expect that Spansion will post $1.27 EPS for the current fiscal year.
Spansion Inc (NASDAQ:CODE) is a designer, manufacturer and developer of Flash memory semiconductors.
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.