Raymond James Issues Pessimistic Forecast for Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Stock Price

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) had its target price lowered by equities research analysts at Raymond James from $30.00 to $29.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target points to a potential upside of 96.74% from the stock’s previous close.

INR has been the topic of several other reports. Citigroup reduced their price target on Market Vectors Indian Rupee/USD ETN from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price target on the stock. Truist Financial assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday, February 28th. They set a “buy” rating and a $26.00 target price on the stock. KeyCorp started coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 target price for the company. Finally, Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.71.

Market Vectors Indian Rupee/USD ETN Price Performance

Shares of NYSEARCA INR opened at $14.74 on Friday. Market Vectors Indian Rupee/USD ETN has a 1-year low of $14.36 and a 1-year high of $23.00. The business’s 50 day moving average is $20.28 and its two-hundred day moving average is $32.45.

Insiders Place Their Bets

In related news, Director Steven D. Gray bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.