MOST people shopping for cars like to stick close to home. The average distance an American travels to buy a new car or truck is about 22 miles, according to CNW Marketing Research, an automotive research company in Bandon, Ore. Then there are those who like to shop a time zone or two away.
In recent trading, shares of DaVita Inc (Symbol: DVA) have crossed above the average analyst 12-month target price of $66.83, changing hands for $66.93/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
Archrivals Cisco Systems and Arista Networks both won price target hikes from Morgan Stanley on Thursday, with Cisco expected to ramp up share repurchases in light of President Trump's tax reform package. James Faucette, a Morgan Stanley analyst, hiked Cisco's price target to 42 from 39 and Arista's to 260 from 210. The analyst also hiked Corning's price target to 33 from 30 and raised his target on Commscope Holdings to 41 from 38.