Notable Upgrades: Ryerson Holdings (RYI), Radian Group (RDN), Amazon.com (AMZN), I.D. Systems (IDSY), Canadian Solar (CSIQ)

Analysts at JPMorgan (JPM) initiated coverage on Ryerson Holdings Corp (RYI) with an ‘Overweight’ rating and a $15.00 price target in a research report issued to clients on Wednesday. Ryerson was also initiated with a ‘Buy’ and a $16.00 price target at Bank of America (BAC), implying 34.68% returns from the stock’s current price.

The chart below shows where the equity has traded since its August initial public offering.

Radian Group Inc (RDN) was upgraded by Compass Point from a ‘Neutral’ rating to a ‘Buy’ rating in a research note issued on Wednesday. The firm currently has a $20.00 price target on the stock, which suggests a potential upside of 37.64% from the stock’s previous close. CP attributes the upgrade on the company’s lower than expected losses in the legacy credit book and higher NIW estimates.

Radian Group shares are currently priced at 13.69x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 20.42x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.41 and 9.62, respectively. Price/Sales for the same period is 2.30 while EPS is $1.07. Currently there is only one analyst that rates RDN a ‘Strong Buy’, 6 rate it a ‘Buy’ and 3 rate it a ‘Hold’. No analysts rate it a sell. RDN has a median Wall Street price target of $17.00 with a high target of $21.00.

In the past 52 weeks, shares of Philadelphia, Pennsylvania-based credit enhancement company have traded between a low of $12.18 and a high of $16.24 and are now at $14.69. Shares are up 4.56% year-over-year and 4.04% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Amazon.com, Inc (AMZN) had its $460 price target and ‘Outperform’ rating reiterated by analysts at Pacific Crest on Wednesday, who believe e-commerce giant’s ad initiatives could increase its earnings-per-share by $2.60 and raise its operating margin by one point in FY 2018.

Amazon’s shares are currently priced at 509.36x this year’s forecasted earnings compared to the industry’s -9.73x earnings multiple. Ticker has a PEG and forward P/E ratio of (80.18) and 170.71, respectively. Price/Sales for the same period is 1.85 while EPS is $0.64. Currently there are 11 analysts that rate AMZN a ‘Strong Buy’, 18 rate it a ‘Buy’ and 16 rate it a ‘Hold’. No analysts rate it a sell. AMZN has a median Wall Street price target of $400.00 with a high target of $460.00.

In the past 52 weeks, shares of Seattle, Washington-based company have traded between a low of $284.38 and a high of $408.06 and are now at $326.50. Shares are up 7.26% year-over-year ; down 17.06% year-to-date.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Investment analysts at B. Riley initiated coverage on shares of I.D. Systems, Inc (IDSY) in a note issued to investors on Wednesday. The firm set a ‘Buy’ rating and a $9.00 price target on the stock. The firm’s price target would suggest a potential upside of 58.73% from the stock’s previous close.

IDSY shares recently gained $0.07 to $5.74. The stock is down almost 11% year-over-year and 1.30% year-to-date. In the past 52 weeks, shares of Woodcliff Lake, New Jersey-company have traded between a low of $3.88 and a high of $6.79.

ID Systems Inc.,  a company that develops wireless solutions for securing industrial vehicles, transportation assets, and rental vehicles, closed Tuesday at $5.67. Ticker has currently a total market cap of $69.34M.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

Canadian Solar Inc. (CSIQ) had its price target raised to $45 from $40 by analysts at at FBR Capital on Wednesday. The firm’s price target would suggest a potential upside of 17.21% from the stock’s current pps.

CSIQ shares recently gained $40.92 to $38.45. The stock is up more than 169% year-over-year and has gained roughly 30 % year-to-date. In the past 52 weeks, shares of West Guelph, Canada-based company have traded between a low of $14.07 and a high of $44.50.

Canadian Solar Inc. shares closed Monday at $37.53. Ticker has a total market cap of $2.11B.

The chart below shows where the equity has traded over the last year, with the 50-day and 200-day moving averages included.

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