Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Earns Strong-Buy Rating from Analysts at Raymond James

Analysts at Raymond James initiated coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “strong-buy” rating and a $30.00 price target on the stock. Raymond James’ price target suggests a potential upside of 56.82% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada initiated coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday. They set an “outperform” rating and a $30.00 price target for the company. Bank of America began coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday. They set a “buy” rating and a $30.00 target price for the company. Finally, Stephens initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday. They issued an “overweight” rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Market Vectors Indian Rupee/USD ETN currently has an average rating of “Buy” and an average price target of $29.20.

Market Vectors Indian Rupee/USD ETN Stock Down 2.8 %

NYSEARCA INR opened at $19.13 on Tuesday. The business has a 50 day moving average price of $32.81 and a 200 day moving average price of $36.82. Market Vectors Indian Rupee/USD ETN has a 1-year low of $18.47 and a 1-year high of $23.00.

Insider Buying and Selling

In other news, Director Steven D. Gray acquired 15,000 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the purchase, 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 at this hyperlink.

Market Vectors Indian Rupee/USD ETN Company Profile

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.