HSBC Analyst Says Buy the Dip in Spreadtrum (SPRD), Maintains Overweight Rating
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Price: $30.93 --0%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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An analyst at HSBC just told Bloomberg any weakness in shares of Spreadtrum (Nasdaq: SPRD) should be bought.
The stock had fallen more than 33 percent earlier following a negative report from the infamous Muddy Waters. The stock rebounded sharply following the knee-jerk move lower, even briefly turning positive. Anyone who bought at the Tuesday lows likely took profits, and shares are now down about 4.3 percent to $12.39.
The HSBC analyst argues the Muddy Waters report had "little merit." The analyst maintains an Overweight rating and $30 price target.
The stock had fallen more than 33 percent earlier following a negative report from the infamous Muddy Waters. The stock rebounded sharply following the knee-jerk move lower, even briefly turning positive. Anyone who bought at the Tuesday lows likely took profits, and shares are now down about 4.3 percent to $12.39.
The HSBC analyst argues the Muddy Waters report had "little merit." The analyst maintains an Overweight rating and $30 price target.
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