5 of Last Week's Biggest Winners
What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.
Net 1 UEPS Technologies
GT Advanced Technologies
Let's start with Net 1 UEPS Technologies. The provider of payment processing soared after an appeals court upheld the company's lucrative contract with the South African Social Security Agency. The deal that would essentially make Net1 the lone handler of social welfare payments in South Africa for five years was met with corruption allegations last year. Now it seems as if Net1 may be able to carry through with the contract.
GT Advanced Technologies bucked the trend of cascading solar energy stocks last week by landing a promising contract. GT signed a "memorandum of understanding" with Powertec Energy for GT's poly silicon technology and equipment for an expansion project that Powertec expects to be delivered during the latter half of next year.
Sarepta Therapeutics moved higher on optimism that eteplirsen -- a drug currently in clinical trials testing for Duchenne muscular dystrophy -- may gain accelerated approval from the FDA.
Deckers Outdoor moved higher on positive analyst comments. Sterne Agee's Sam Poser believes that the footwear maker's new Ugg Pure concept -- replacing the fur part of Uggs' signature sheepskin boots with a wool pile process -- will begin to shave costs by next year.
Rubicon Technology was also on the receiving end of some Wall Street love. Canaccord Genuity initiated coverage of the industrial gemologist with a "buy" rating. Analyst Jonathan Dorsheimer thinks the sapphire market will tighten next year, making Rubicon a steal at just 0.5 times tangible book value. His price target on the shares is $10.
Editor's note: A previous version of this article referred to Support.com (SPRT) instead of Sarepta Therapeutics (SRPT). The Fool regrets the error.
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The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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