Stephens Reaffirms Overweight Rating for Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)‘s stock had its “overweight” rating reissued by analysts at Stephens in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $30.00 target price on the stock. Stephens’ target price indicates a potential upside of 66.85% from the stock’s previous close.

Several other equities analysts have also recently weighed in on INR. KeyCorp began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 price target on the stock. Royal Bank of Canada began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “outperform” rating and a $30.00 target price on the stock. Capital One Financial began coverage on Market Vectors Indian Rupee/USD ETN in a report on Wednesday, February 26th. They set an “overweight” rating for the company. Bank of America began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Citigroup began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “buy” rating and a $27.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Market Vectors Indian Rupee/USD ETN presently has a consensus rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Performance

Shares of INR opened at $17.98 on Friday. The stock has a 50-day moving average of $22.42 and a 200-day moving average of $33.20. Market Vectors Indian Rupee/USD ETN has a one year low of $14.83 and a one year high of $23.00.

Insider Activity

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $300,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

About Market Vectors Indian Rupee/USD ETN

International Consolidated Airlines Group, SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, Ireland, the United States, and rest of the world. The company operates under the British Airways, Iberia, Vueling, Aer Lingus, and LEVEL brands.