Raymond James Begins Coverage on Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)

Investment 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, MarketBeat reports. The brokerage set a “strong-buy” rating and a $30.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 60.00% from the company’s previous close.

A number of other brokerages have also recently issued reports on INR. Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday. They issued a “buy” rating and a $30.00 target price for the company. Stephens started coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday. They set an “outperform” rating and a $30.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $28.83.

Market Vectors Indian Rupee/USD ETN Trading Down 0.8 %

Shares of INR opened at $18.75 on Tuesday. Market Vectors Indian Rupee/USD ETN has a 52-week low of $18.09 and a 52-week high of $23.00. The company has a 50-day simple moving average of $32.00 and a 200-day simple moving average of $36.54.

Insider Transactions at Market Vectors Indian Rupee/USD ETN

In related news, Director Steven D. Gray purchased 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was bought 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 $300,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed 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.