Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc., Adobe Systems Incorporated, and America Express Company

Analysts upwardly revised their ratings on AAPL, ADBE, and AXP

by 6/18/2014 9:18 AM
Stocks quoted in this article:

Analysts are weighing in today on technology guru Apple Inc. (NASDAQ:AAPL), software provider Adobe Systems Incorporated (NASDAQ:ADBE), and data storage concern American Express Company (NYSE:AXP). Here's a quick roundup of today's bullish brokerage notes.

  • AAPL attracted more bullish brokerage attention last night, when SocGen upgraded the stock to "buy" from "hold." Elsewhere, Apple Inc. has already received "buy" or better endorsements from 30 of its 39 covering analysts, while the other nine maintain lukewarm "hold" suggestions. Meanwhile, the average 12-month price target on AAPL is $93.66, denoting a premium of less than 2% to the shares' current perch at $92.08. From a broader technical standpoint, AAPL is standing 49.3% higher on a year-over-year basis. Moments ago, the iPhone parent rolled out a 21.5-inch iMac desktop with a base-model price of $1,099.

  • Several brokerage firms applauded ADBE for last night's strong second-quarter earnings report, including JMP Securities and Susquehanna, which upped their price targets on the stock by $4 to $82 and $87, respectively, this morning. In the month leading up to the quarterly event, Adobe Systems Incorporated had tacked on roughly 10% to last night's closing price of $67.54, and option traders have been more bullish than usual toward the equity in recent sessions. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.13 ranks in the 66th annual percentile. This means more than two calls have been bought to open for every put during the past two weeks -- representing an accelerated rate, from a historical perspective.

  • AXP -- which has gained more than 8% over the last month to trade at $94.66 -- received a price-target lift to $105 from $94 at Guggenheim this morning. For comparison, the consensus 12-month price target among analysts sits at $95.28, just a chip-shot away from the shares' current price. Ratings-wise, meanwhile, American Express Company sports 11 "buy" or better endorsements, seven "holds," and two "strong sell" recommendations.

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