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Sector Update: Technology

By: MT Newswires
Posted: 12/11/2013 8:16:00 AM
Referenced Stocks: GRPN

Technology shares mixed in pre-bell trading today.

In technology stocks news, according to a story late Monday afternoon on Barron's, Citigroup's new BlackBerry (BBRY, BB.TO) analyst replaced its Neutral rating on BBRY with a Sell rating, and a $4 price target, down from its previous $7 target.

"Blackberry remains challenged as a going concern and continues to be worth more in a breakup scenario, a strategy that current management does not appear to be following."

BBRY, which hit decade lows on Monday, reports fiscal Q3 earnings results on December 20. It gained 3.8% in regular hours Tuesday but then lost 1.7% in after hours. It is down 2.5% this morning at $5.82.

Analysts at Wells Fargo have upgraded their coverage of Groupon Inc. ( GRPN ) to Outperform from Market Perform. The firm also more than doubled its price target range to $13-$14 from $5-$6. GRPN is up 3.2% in pre-market trade.