Schaeffer's Trading Floor Blog

Analyst Update: J C Penney Company Inc, Monster Beverage Corp, and Gilead Sciences, Inc.

Analysts adjusted their ratings on JCP, MNST, and GILD

by 8/15/2014 2:14 PM
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Analysts are weighing in today on department store operator J C Penney Company Inc (NYSE:JCP), energy drink distributor Monster Beverage Corp (NASDAQ:MNST), and biopharmaceutical firm Gilead Sciences, Inc. (NASDAQ:GILD). Here's a quick look at today's brokerage notes on JCP, MNST, and GILD.

  • JCP has lost 3.6% this afternoon to trade at $9.39, as a downbeat margin forecast has overweighed the company's second-quarter earnings beat. Ahead of the event, traders predicted technical troubles for J C Penney Company Inc by loading up on put options. However, J.P. Morgan Securities raised its price target on JCP to $11 from $9, representing an unusually bullish forecast for the stock. The equity's average 12-month price target stands at $9.42, just pennies above JCP's current price.

  • News of a high-profile investment has sent MNST soaring more than 28% to $91.93, with the stock fresh off an all-time high of $94.93. The news also elicited a batch of bullish endorsements for Monster Beverage Corp, as CLSA upgraded the stock to "outperform," BMO raised its price target to $95, and Stifel lifted its target to $94. Most analysts are already upbeat toward MNST, as the stock boasts 60% "strong buy" recommendations.

  • GILD touched its own record peak of $99.37 earlier, with the stock last seen up 2.2% at $98.52. Traders are cheering a patent victory for Gilead Sciences, Inc., which effectively eliminated the threat of what RBC called a "Doomsday scenario" for the biotech firm. Following this positive news, FBR started coverage of GILD with an "outperform" rating, while Cowen and Company upped its price target to $105 from $95. There could be additional upside in store for the stock if short sellers decide to hit the bricks. Short interest accounts for 6.6% of GILD's float, or 6.7 times the equity's average daily trading volume.

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