Monday's Top Upgrades (and Downgrades)http://www.fool.com/investing/general/2012/11/26/mondays-top-upgrades-and-downgrades-7.aspx Rich Smith
November 26, 2012
This series, brought to you by Yahoo! Finance, looks at which upgrades and downgrades make sense, and which ones investors should act on. Today, our headlines are biased to the downside, with analysts reducing ratings on clothier Aeropostale(NYSE: ARO) and catsup-maker H.J. Heinz(NYSE: HNZ). But it's not all bad news.
An upgrade for Anadigics(NASDAQ: ANAD)
So let's do that.
After falling nearly 40% in value over the past year, Anadigics shares sell today for just a buck and change. Needham seems to think the valuation appropriate given today's level of sales, but expecting sales to double in short order, predicts a 0.8 times price-to-sales ratio on the shares (equivalent to today's valuation) could double Anadigics' stock price within a year. It could be right about that -- it cou