Bruker (BRKR) and Pinterest (PINS) stocks moved higher on Monday, highlighting expanding strength in varying industry groups.
Summary
Pinterest popped more than 2% on a UBS upgrade, citing “improving” advertising trends for the social network. Analyst Lloyd Walmsley raised his recommendation on the stock to buy from neutral and adjusting its price target from $27 to $35. In addition, Pinterest is trading at a discount to improving Sales and EBITDA.
Stocks Breaking Out
Bruker is printing a triple top, with its RS line rising to the highest point in 2023. With a 93 ranking, and threatening a break out, the stock shows up on the MarketSmith blue dot scan by default.
Should Bruker break above the recent highs, the chart suggests potential targets nearly 17% higher. The company garners a IBD SmartSelect Composite Rating of 92 while sporting a 13% EPS growth rate.
Dow Jones Industrials
Electric-vehicle giant Tesla (TSLA) rose 0.5% early Tuesday. Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) were lower ahead of today’s stock market open.
Align Technology (ALGN), IBD SwingTrader stock Meta Platforms (META) and IBD LeaderboardPalo Alto Networks (PANW) — as well as Dow Jones stocks Cisco Systems (CSCO) and Nike (NKE) — are among the top stocks to watch in the ongoing stock market correction.
Pinterest – Stocks Breaking Out Scan
Pinterest (PINS) moved higher on Monday, highlighting the stocks expanding strength in the retial/social media darling. The stock appeared on the MarketSmith blue dot scan.
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