Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), Twitter Inc, and Chesapeake Energy Corporation

Analysts upwardly revised their ratings on AAPL, TWTR, and CHK

by 5/8/2014 9:24 AM
Stocks quoted in this article:

Analysts are weighing in today on tech powerhouse Apple Inc. (NASDAQ:AAPL), microblogging platform Twitter Inc (NYSE:TWTR), and oil-and-gas concern Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's bullish brokerage notes.

  • Canaccord Genuity lifted its price target on AAPL to $660 from $610 last night, which comes as no surprise, considering the shares -- which closed at $592.33 on Wednesday before going ex-dividend today -- are up more than 12% from their April 23 pre-earnings closing price of $524.75. In the options pits, the stock is seeing heavier-than-usual put open interest (compared to call open interest) among options expiring within the next three months. This is evidenced by the fact that AAPL's Schaeffer's put/call open interest ratio (SOIR) of 0.80 ranks higher than 87% of comparable readings from the past year. Of note, Apple Inc. has been no stranger to bullish brokerage notes of late. In fact, the stock has received more than a dozen upgrades since its first-quarter earnings report two weeks ago, which may have helped the shares retake the $600 mark earlier this week.

  • Although TWTR has lost 20.9% over the last two days (since its lock-up period expired) to trade at $30.66, Morgan Stanley upgraded the stock to "equal weight" from "underweight" ahead of today's open. Elsewhere, Twitter Inc already maintains 20 "hold" or worse suggestions, compared to just four "strong buy" ratings. However, the average 12-month price target among covering analysts stands at $44.73, representing a 45.9% premium to the shares' current perch.

  • UBS and Wunderlich applauded CHK's earnings win this morning, each increasing their price target by $2 to $30 and $36, respectively. On the charts, Chesapeake Energy Corporation is up 14% on a one-month basis to perch at $29.61. Nevertheless, the equity maintains a significant amount of short interest, as 9.3% of CHK's float is sold short. It would take more than six sessions to cover these bearish bets, at the shares' average pace of trading.

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