Why Opera Stock Zoomed 13% Higher Today
For any stock, it's usually a good day when a famous investment bank taps it as an investible asset. That happened on Wednesday to browser and digital content company Opera (NASDAQ: OPRA), giving its shares a more than 13% lift during the trading session. That was far more than enough to beat the S&P 500 index's 1.4% rise.
The raiser in question was Goldman Sachs. Well before market open, its analyst Eric Sheridan initiated coverage of Opera stock with a buy recommendation at a price target of $16.50 per each of its American depositary shares (ADS). Even after Wednesday's price surge, that level implies a potential gain of over 33% for the specialty tech company.
It wasn't immediately apparent why Sheridan was so bullish on the stock. However, his move comes a mere day after Opera declared its latest semiannual dividend. The company is paying its shareholders $0.40 per ADS. This is to be handed out on or about Jan. 9, 2024, to investors of record as of Jan. 3.
Source Fool.com
