Notable Analyst Actions: Cara Therapeutics, Intrawest Resorts, TIVO, TriQuint Semiconductor, Meredith; Basic Energy Services

Technology Stocks News 19

Analysts at JMP Securities have initiated coverage of mountain resort operator Intrawest Resorts Holdings Inc. (NYSE:SNOW) with a Market Perform rating. The price target has been set at $17 a share. In pre-market activity, SNOW shares are unchanged at $8.07, and move within a 52-week range of $10.80 – $14.67.

Shares of Cara Therapeutics (NASDAQ:CARA) climbed in Tuesday’s pre-market session, as Janney Capital Markets started coverage of the biopharmaceutical company with a buy rating and a $25 fair-value estimate. The stock also received a buy rating Tuesday from Stifel Nicolaus, which set a price target of $21 per share for CARA. The shares were up 9.2% at $15.81 in recent pre-market trading, putting them on track to reach a new high.

The highest they have traded in the regular session following their late-January public debut has been $15.69. In a note to clients, Janney noted CARA’s CR845 pain therapeutic is targeting a large market with a significant unmet medical need–the post-operative pain market, which the firm values at about $6 billion in the U.S. “With the multi-modal analgesia as a standard of care and 75% of patients reporting adverse events from their pain medications, we believe that CR845 has the ability to draw significant market share if approved,” Janney said.

Coverage of TiVo Inc. (NASDAQ:TIVO) has been initiated by analysts at Northland Capital Markets with an Outperform rating and a $15 price target. “Recent results have been promising with many of its customers increasing their market share because of TIVO’s services,” said Northland, according to StreetInsider.com. “Although there is competition in the space, TIVO is in the right space at the right time.” Shares of TIVO are steady in pre-market trading at $13.02, amid a 52-week spread of $10.47 – $14.25.

Analysts at Brean Capital have upgraded TriQuint Semiconductor (NASDAQ:TQNT) to a Buy rating from a Hold. The price target was set at $16 a share. The upgrade comes the day after TQNT announced an all-stock merger deal with RF Micro Devices (RFMD) for $1.6 billion. Shares of TQNT are down 1.20% to $11.50 in pre-market trade, but remain in the high end of a 52-week range of $4.31 – $11.84.

Analysts at Benchmark have upgraded media and marketing company Meredith Corporation (NYSE:MDP) to a Buy rating from a Hold. The firm set its price target on the stock at $52 a share. In pre-market trade, MDP shares are steady at $44.96, and have a 52-week range of $35.55 – $53.84.

Analysts at Jefferies have downgraded oil and natural gas company Basic Energy Services, Inc. (NYSE:BAS) to an Underperform rating from a Hold. Despite the downgrade, the firm has raised its price target on the stock to $16 from $13.50 a share. BAS is unchanged at $23.51 in pre-market trading, amid a 52-week frame of $11.06 – $24.09.

 

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