The Upgrades: Symantec, MetroPCS and NetApp (NASDAQ:SYMC),(NYSE:PCS),(NASDAQ:NTAP)

Today’s upgrades are brought to us by various analysts and include Symantec Corporation (NASDAQ:SYMC) , MetroPCS Communications, Inc. (NYSE:PCS) and NetApp Inc. (NASDAQ:NTAP).

Symantec Corporation (NASDAQ:SYMC)  gets its upgrade today from Wells Fargo, as their analysts division raises the outlook on the stock from  Market Perform to Outperform.  No price target was set Wells Fargo although the stock has basically met many other analyst expectations of $19 a share as shares are currently trading hands at $18.58.  Reviewing the chart for Symantec, we see that the stock price recently broke some pretty strong resistance at $18 and shares are now continuing to advance.  This could allow the stock to continue to advance to the next resistance level of $22 which was last tested back in August 2008.

Deutsche Bank raised MetroPCS Communications, Inc. (NYSE:PCS) from a Sell to Hold, checking their price target at the current level of $6.  Shares of MetroPCS have been pummeled by the market over the past year.  The interesting thing from the chart is that the stock appears to be testing the support low level of $6 set back in November of 2009.  Look for the stock to make some meaningful progress off this low and then consider investing hard earned dollars.  So far, the stock has been locked in a down trend and it would be a bit tough to throw money at it without any signs of the stock being resuscitated.

NetApp Inc. (NASDAQ:NTAP) receives an upgrade just one day after coverage was initiated on the stock by analysts William Blair and JMP Securities.  Today, MKM Partners lifted their outlook on NetApp from Neutral to Buy, tagging a price target of $41.  Considering shares are trading at $33.17, that is a nice +24% price target from current levels.  As you can see from the chart, the stock has been moving up in a pretty strict trading channel and shares are currently bouncing off the lower band of the channel, so this may be a good buying opportunity.  If you pick up some shares, a tight stop might be to use the 50-day moving average which is currently sits at $31.71. 

Disclosure: No positions.