Notable Upgrades: Dish Network (DISH), Morgan Stanley (MS), BioMarin (BMRN), Qualcomm (QCOM), Micron (MU)

Analysts at Barclays are out with a report today upgrading shares of Dish Network Corp. (DISH) with an ‘Equal Weight’ from ‘Underweight’ rating. The firm however, lowered its price target for the company to $59 from $62.

On valuation metrics, DISH Network Corp. shares are currently priced at 15.97x this year’s forecasted earnings. Ticker has a forward P/E of 22.59 and a trailing-12 price/sales ratio of 1.34. EPS for the same period is $2.76.

In the past 52 weeks, shares of Englewood, Colorado-based provider of pay TV services have traded between a low of $38.85 and a high of $80.75 and are now at $44.06.

Shares are down 44.01% year-over-year and 24.26% since the beginning of the year.
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Analysts at Portales Partners upgraded their rating on the shares of Morgan Stanley (MS). In a research note published on Tuesday, the firm lifted the name with a ‘Sector Perform’ from ‘Underperform’ rating.

Shares of Morgan Stanley shares are currently priced at 8.14x this year’s forecasted earnings, compared to the industry’s 10.42x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.54 and 7.07, respectively. Price/Sales for the same period is 1.26 while EPS is $2.90.

Currently, there are 14 analysts that rate MS a ‘Buy’, 11 rate it a ‘Hold’. 2 analysts rate it a ‘Sell’. MS has a median Wall Street price target of $33.50 with a high target of $47.00.
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BioMarin Pharmaceutical Inc. (BMRN) was raised to ‘Buy’ from ‘Hold’ with $105 price target at Stifel on Tuesday.

BMRN is up $3.75 at $73.83 on normal volume. Midway through trading Tuesday, 1.44 million shares of BioMarin Pharmaceutical Inc. have exchanged hands as compared to its average daily volume of 2.05 million shares. The stock has ranged in a price between $71.49-$74.32 after having opened the day at $72.11.

In the past 52 weeks, shares of San Rafael, California-based company have traded between a low of $62.12 and a high of $151.75. Shares are down 26.85% year-over-year and 33.10% year-to-date.
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Qualcomm Incorporated (QCOM) was upgraded to ‘Outperform’ from ‘Market Perform’ by Bernstein analysts on Tuesday. The firm notes they have a favorable view on the company’s royalty rate outlook.

Qualcomm Inc. is down 34.71% year-over-year, compared with a 11.22% loss in the S&P 500.
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Micron Technology, Inc. (MU) had its rating hiked to ‘Buy’ from ‘Neutral’ by Mizuho today. The firm set its price target on the name at $12 a share.

MU shares recently gained $0.72 to $10.74. The stock is down 68.63% year-over-year and has lost roughly 29% year-to-date. In the past 52 weeks, shares of Boise, Idaho-based company have traded between a low of $9.31 and a high of $32.84.

Micron Technology Inc. closed Friday at $10.02. The name has a total market cap of $11.14 billion.

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