Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Price Target Cut to $23.00 by Analysts at Citigroup

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) had its target price cut by equities researchers at Citigroup from $27.00 to $23.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 56.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Bank of America started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued a “buy” rating and a $30.00 price target for the company. KeyCorp started coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set an “overweight” rating and a $26.00 target price for the company. Raymond James began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “strong-buy” rating and a $30.00 target price on the stock. Royal Bank of Canada initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Capital One Financial started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $27.71.

Market Vectors Indian Rupee/USD ETN Stock Down 14.8 %

NYSEARCA:INR opened at $14.74 on Friday. Market Vectors Indian Rupee/USD ETN has a 1-year low of $14.36 and a 1-year high of $23.00. The company has a 50-day moving average of $20.28 and a 200 day moving average of $32.45.

Insider Activity

In related news, Director Steven D. Gray purchased 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.