Schaeffer's Trading Floor Blog

Analyst Upgrades: American International Group Inc, CVS Caremark Corporation, and TripAdvisor Inc

Analysts upwardly revised their ratings on AIG, CVS, and TRIP

by 6/6/2014 9:19 AM
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Analysts are weighing in today on global insurance provider American International Group Inc (NYSE:AIG), drugstore chain CVS Caremark Corporation (NYSE:CVS), and online travel research company TripAdvisor Inc (NASDAQ:TRIP). Here's a quick roundup of today's bullish brokerage notes.

  • AIG -- which last night announced plans for a stock repurchase program of up to $2 billion -- received a price-target lift to $64 from $56 at Barclays in pre-market action. Meanwhile, in the options pits, speculators have upped the bearish ante on the equity, which sports a modest year-to-date gain of 7.4% to trade at $54.95. In fact, American International Group Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.94 ranks in the 88th annual percentile, indicating puts have been bought to open, relative to calls, at a faster-than-usual clip during the past two weeks.

  • After jumping to a fresh all-time high of $78.86 yesterday (and later closing the session at $78.62), CVS received a price-target hike to $90 from $85 at Susquehanna in overnight trading. On the options front, meanwhile, CVS Caremark Corporation currently sports an annual-high level of short-term call open interest, compared to put open interest, with the former roughly doubling the latter. This is evidenced by the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.49, which ranks at a 12-month low.

  • TRIP -- which has spiked 21.6% over the last month to perch at $103.03 -- received its second bullish brokerage note of the week this morning, when J.P. Morgan Securities upped its price target to $100 from $83. (SunTrust Robinson, meanwhile, initiated a "neutral" rating on the equity.) Elsewhere, short-term option players are more call-heavy than usual toward TripAdvisor Inc, as demonstrated by the stock's SOIR of 0.48, which ranks in the bottom 8% of its annual range. Looking ahead, TRIP will be hosting its annual shareholder meeting next Thursday, June 12.
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