Hutchinson Tech upgraded to ‘hold,’ shares gain 15%
Hutchinson Technology Incorporated (Nasdaq:HTCH) is up more than 15% after analysts at Brean Murray upgraded the company to “hold” from “sell.” The Hutchinson, Minn.-based company makes and markets suspension assemblies for disk drives. The research firm said the company had a low valuation. During the past year, shares have ranged from $11.38 to $27.85. In today’s trading, shares are at $15.10 at 12:02 p.m. ET, up $1.92 from Tuesday’s close. Trading volume is nearly double the average number of shares.
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