Stocks to buy: The IMF lowered the outlook for global economic growth. Alcoa Inc (AA) opened the prelude of a new round of earnings report season of the U.S. companies. Investors were cautious, and the U.S. stocks fell on Tuesday with the Dow down 0.81%, the Nasdaq Composite falling 1.52% and the S&P 500 index declining 0.99%. A group of companies were deemed by analysts as the stocks to buy at this moment.
Cardinal Health, Inc. (CAH) is a global healthcare services company providing pharmaceutical and medical products and services. The company had its stock upgraded by analysts at ISI Group from hold to buy with a price target of $46 per share. CAH has a 52-week range between $36.91 and $46.23. Cardinal Health has a market cap of $13.98 billion. After the upgrade, CAH stock price was up 0.51% on Tuesday.
Allot Communications (ALLT) is a provider of intelligent Internet Protocol (IP) service optimization, monetization and personalization solutions for mobile, fixed and wireless broadband service providers and enterprises. Analysts at Jefferies raised their rating on this stock from hold to buy with a $30 price target. ALLT stock traded between $1.75 and $29.05 over the past 52 weeks. The company currently ha s a market cap of $773.03 million. ALLT climbed 0.59% on Tuesday.
As we all know, IBM is one of the best stocks to buy. Analysts at Citigroup also believe this truth by setting a buy rating on this stock with a $250 price target. IBM stock price fluctuated between $176.17 and $211.79 over the past 52 weeks. The information technology (IT) giant currently has a market cap of $237.69 billion. IBM faded 0.87% on Tuesday.
Interpublic Group of Companies (IPG) had its stock lifted by analysts at Citigroup from a neutral rating to a buy rating with a $14.00 price target, up from the previously set price target of $11.00. Interpublic Group of Companies, through its subsidiaries, operates as a provider of advertising and marketing services. Over the past 52 weeks, IPG stock traded as high as $12.17 and as low as $7.35. The company currently has a market cap of $5.01 billion. IPG stock price was up 0.35% on Tuesday.
After analysts suggested these companies as stocks to buy, their prices saw big increases. RSH shares soared more than 12% on Tuesday after analysts at Bank of America lifted the rating on the stock of RadioShack (RSH), a chian retailer of consumer electronics goods and services, from an underperform rating to a buy rating. The research firm currently has $2.50 price target on the stock, up from the previous set price target of $2.00. Promoted by the upgrade,. RSH stock price has a 52-week range between $2.01 and $13.94. The market cap of RadioShack is $231.17 million.
Biopharmaceutical company Questcor Pharmaceuticals (QCOR) also saw its stock being upgraded by analysts at Jefferies Group today, from a hold rating to a buy rating with $28.00 price target, up from the previously set price target of $24.00. Questcor Pharmaceuticals, with a market cap of $1.25 billion, is primarily focusing on its product, H.P. Acthar Gel, for the treatment of acute exacerbations of multiple sclerosis in adults, and as monotherapy for the treatment of infantile spasms in infants and children under two years of age. QCOR rose 3.30%, following the upgrade on Tuesday.
Family footwear retailer Shoe Carnival (SCVL) also saw it stock being upgraded by analysts at Sterne Agee from a neutral rating to a buy rating with a price target of $28.00. Following this, SCVL stock price soared 5.12%. SCVL stock traded between $12.79 and $24.66 over the past 52 weeks. The company currently has a market cap of $487.15 million.