Scalper1 News
After losing more than 12% of its value over three straight trading days, Harman International Industries (HAR) regained some lost ground Monday on several positive analyst reports. In Wall Street’s equivalent of Tammy Wynette singing “Stand By Your Man,” at least three analysts reiterated their bullish views on the maker of premium audio products and automotive infotainment systems, despite disappointing March-quarter results. Harman’s fiscal third-quarter earnings, delivered early Thursday, were a “speed bump,” said Baird analyst David Leiker. The company report “doesn’t change our thesis,” Leiker said. “We remain buyers.” In a note Friday, Leiker maintained his outperform rating on Harman stock but trimmed his price target by a buck to 177. Harman stock rose a fraction, to 127.28, on the stock market today. Harman hit an all-time high of 149.12 on April 23 but fell 7% on Thursday. Scalper1 News
Scalper1 News