Recent Debt Deal Puts Analysts on Alcatel's (ALU) Side
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Alcatel-Lucent (NYSE: ALU) might have finally hit an upswing.
On Thursday, Credit Suisse upgraded the stock to Neutral with a price target boosted from €0.70 to €1.25. The firm commented that it likes the new debt agreement Alcatel entered into, allowing for more time to complete a full reorganization.
The call comes following two positive moves in December, with Evercore Partners starting Alcatel at Overweight and Natixis upgrading the shares to Buy on December 17th. Since then, Alcatel has moved nearly 20 percent higher and is currently 74 percent above its 52-week low ($0.91 hit on October 11th).
Traders should note that the 14-session Money Flow Index is at 83.8, above the typical 80 threshold.
Shares are up 8.5 percent Friday, looking to add to a three-session run higher.
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On Thursday, Credit Suisse upgraded the stock to Neutral with a price target boosted from €0.70 to €1.25. The firm commented that it likes the new debt agreement Alcatel entered into, allowing for more time to complete a full reorganization.
The call comes following two positive moves in December, with Evercore Partners starting Alcatel at Overweight and Natixis upgrading the shares to Buy on December 17th. Since then, Alcatel has moved nearly 20 percent higher and is currently 74 percent above its 52-week low ($0.91 hit on October 11th).
Traders should note that the 14-session Money Flow Index is at 83.8, above the typical 80 threshold.
Shares are up 8.5 percent Friday, looking to add to a three-session run higher.
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