Bank of America Begins Coverage on Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)

Analysts at Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 60.00% from the stock’s previous close.

Market Vectors Indian Rupee/USD ETN Stock Down 0.8 %

Shares of NYSEARCA INR opened at $18.75 on Tuesday. The firm’s 50-day moving average price is $32.00 and its 200-day moving average price is $36.54. Market Vectors Indian Rupee/USD ETN has a 52-week low of $18.09 and a 52-week high of $23.00.

Insider Activity

In related news, Director Steven D. Gray purchased 15,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were purchased at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $300,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.