Schaeffer's Trading Floor Blog

Analyst Upgrades: Alcatel Lucent SA (ADR), Express, Inc., and Workday Inc

Analysts upwardly revised their ratings on ALU, EXPR, and WDAY

by 8/28/2014 8:46 AM
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Analysts are weighing in today on Paris-based tech firm Alcatel Lucent SA (ADR) (NYSE:ALU), apparel retailer Express, Inc. (NYSE:EXPR), and cloud-based management expert Workday Inc (NYSE:WDAY). Here's a quick roundup of today's bullish brokerage notes on ALU, EXPR, and WDAY.

  • It's been a tough year for ALU, which -- at $3.36 -- is staring at a 2014 deficit of nearly 24%. In recent sessions, the shares have been battling back from a year-to-date low of $3.14. Bernstein apparently thinks Alcatel Lucent SA (ADR) has room to run, raising its rating to "outperform" from "market perform," and its price target to $4.63 from $3.97. The rest of the brokerage bunch isn't so sure -- 70% of covering analysts have doled out "hold" or worse opinions on ALU.

  • EXPR soared yesterday -- following a strong second-quarter earnings report -- and closed almost 13% higher at $16.45. The Street took notice of this move, as no fewer than five brokerage firms upped their price targets on the equity -- including Janney, which is eyeing the $22 level for the shares. Should Express, Inc. sustain Wednesday's momentum, short sellers may be forced to cover. Short interest on the stock spiked 23.3% during the two most recent reporting periods, and now makes up 8% of EXPR's float.

  • Finally, WDAY is trending higher ahead of the bell, after reporting stronger-than-expected growth in quarterly revenue and upping its full-year sales outlook. Meanwhile, analysts are jumping on the stock's bandwagon, with six firms raising their price targets on Workday Inc -- including Cantor Fitzgerald, which revised its expectation to $121 from $108. Elsewhere, options traders have shown skepticism toward the security, as its 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.95 ranks just 2 percentage points from an annual bearish acme. On the charts, WDAY has advanced 8.6% year-to-date to trade at $90.30.

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