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.
Let's start with Himax. The maker of display chips received an encouraging nod from Chardan Capital Markets analyst Jay Srivatsa, who sees a boost in production for its micro-displays in conjunction with next year's expected Google Glass launch. Srivatsa also believes Himax is starting to ramp up production on another product that will be introduced in the middle of next year by none other than Microsoft. Srivatsa is raising his price target to $12 on Himax.
Celldex moved higher after Jim Cramer once again waxed positive on the stock. During Mad Money's Lightning Round, Cramer pointed out that his research shows that it's best to keep holding the stock even though it has roughly doubled since he originally recommended it.
"The actual stuff that's in the pipe is so good" he said, that he's telling viewers not to sell it just yet.
Organovo showed signs of life after making an earlier investor conference presentation available online and some positive articles were published on Seeking Alpha and TheStreet.com. The company was one of this summer's most volatile stocks, given the nature of its technology. Its goal is to simulate human tissue that can be used to help speed up the testing process for new potential drugs and treatments.
We may be years away from Organovo's viability -- and there are no guarantees that it will succeed or won't be beaten to the punch by somebody else -- but the upside is huge even if its chances of succeeding are slim. That's the kind of lottery-ticket speculation that will probably make Organovo a regular among the week's biggest winners and losers in the months to come.
Tesla Motors accelerated to a new high after a favorable analyst report. Deutsche Bank is raising its price target on the electric-car maker from $160 to $200. Deutsche Bank sees strong gross margins and few potential negative catalysts in the near term. One can argue that the stock's $21 billion market cap makes it a magnet for bearish attacks, but there's little that Tesla has done wrong this year.
Finally, Sohu moved higher after cashing in as the operator of China's third most popular search engine. It was rumored that one of the larger rivals to Sohu's Sogou would step up and acquire the platform, but a surprise player entered the game. Gaming and online chat giant Tencent is paying $448 million for a 36.5% stake in Sogou.
The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends Sohu.com and Tesla Motors and owns shares of Microsoft and Tesla Motors. 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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