Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), Salesforce.com, inc., and Take-Two Interactive Software, Inc.

Analysts upwardly revised their ratings on AAPL, CRM, and TTWO

by 5/5/2014 9:16 AM
Stocks quoted in this article:

Analysts are weighing in today on tech titan Apple Inc. (NASDAQ:AAPL), cloud computing concern Salesforce.com, inc. (NYSE:CRM), and video game maker Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Here's a quick roundup of today's bullish brokerage notes.

  • AAPL's most recent round of bullish brokerage notes has carried over into this week, with RBC lifting its price target to $645 from $625 this morning. Following last week's string of higher annual highs, Apple Inc. is currently positioned at $592.58 -- 31.7% above its year-ago price. Meanwhile, in the options pits, short-term speculators are more put-focused than usual toward AAPL right now, as the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.78 ranks higher than 85% of comparable readings from the past year.

  • Although down 21.7% from its Feb. 28 all-time high of $67.00 to trade at $52.44, CRM received an upgrade to "buy" from "hold" at Deutsche Bank earlier today. Elsewhere, Salesforce.com, inc. maintains a healthy amount of short interest, with 7.8% of its available float sold short. At the equity's average pace of trading, it would take close to seven sessions to cover these bearish bets.

  • TTWO -- which is up nearly 20% year-to-date to perch at $20.77 -- saw its price target increased to $22.74 from $20.05 at Benchmark in pre-market trading. Meanwhile, in the options pits, Take-Two Interactive Software, Inc. has been on the bearish radar. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 3.48 ranks the highest of all readings taken during the past 12 months, insinuating puts have been bought to open over calls at an annual-high pace during the past two weeks. Of note, TTWO is slated to report fiscal fourth-quarter earnings after the close on Tuesday, May 13.

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