Schaeffer's Trading Floor Blog

Analyst Upgrades: Baidu Inc (ADR), SodaStream International Ltd, and Western Digital Corp

Analysts upwardly revised their ratings on BIDU, SODA, and WDC

by 7/31/2014 8:42 AM
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Analysts are weighing in today on Chinese search engine Baidu Inc (ADR) (NASDAQ:BIDU), home carbonation system maker SodaStream International Ltd (NASDAQ:SODA), and digital storage solutions provider Western Digital Corp (NASDAQ:WDC). Here's a quick roundup of today's bullish brokerage notes.

  • Extending last week's post-earnings bull gap, BIDU ran to a record high of $229.60 earlier this week, and currently sits at $219.13 -- up 67% year-over-year. Accordingly, Standard Chartered raised its price target on the stock by $50 to $275, to go along with an "outperform" rating. This optimistic sentiment isn't unusual on Wall Street. In fact, 11 out of 13 analysts following Baidu Inc (ADR) have handed out "strong buy" evaluations, compared to just two "holds" and not a single "sell" opinion.

  • SODA rallied 10% yesterday to close at $32.76, thanks to a better-than-expected second-quarter earnings report. In response, Barclays raised its rating on the equity to "equal weight" from "underweight" (although Canaccord Genuity, J.P. Morgan Securities, and Roth each lowered their price targets). Generally speaking, analysts are at least slightly skeptical of SodaStream International Ltd, which has received just one "strong buy" endorsement, versus seven "holds" and two "strong sell" opinions. This makes sense, too, given the shares' 34% year-to-date deficit.

  • Finally, WDC reported a fiscal fourth-quarter earnings beat last night, and was subsequently met with a flurry of bullish brokerage notes. In fact, no fewer than eight firms upped their price targets on the shares. Additional price-target hikes could be on the way, too, as Western Digital Corp's consensus 12-month price target of $104.42 is just a chip-shot away from its current perch at $101.17.

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