Schaeffer's Trading Floor Blog

Analyst Upgrades: Barrick Gold Corporation (USA), SanDisk Corporation, and Priceline.com Inc

Analysts upwardly revised their ratings on ABX, SNDK, and PCLN

by 2/19/2014 9:24 AM
Stocks quoted in this article:

Analysts are weighing in today on gold miner Barrick Gold Corporation (USA) (NYSE:ABX), data storage concern SanDisk Corporation (NASDAQ:SNDK), and travel website Priceline.com Inc (NASDAQ:PCLN). Here's a quick roundup of today's bullish brokerage notes.

  • ABX -- which has advanced 7.3% since its earnings report last Thursday morning to perch at $20.36 -- received a $2 price-target hike to $23 at CIBC earlier today. Over the past 10 sessions, Barrick Gold Corporation (USA) has racked up an International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 3.05, which ranks in the 60th annual percentile. In other words, speculators have bought to open three times as many calls as puts, representing a slightly faster than usual rate of bullish betting over bearish.

  • Bernstein upped its price target on SNDK to $100 from $95, expecting the stock to climb more than 34% from its current perch at $74.59 during the forthcoming year. Elsewhere, the average 12-month price target among analysts comes in at $78.24, which denotes a slimmer premium to Tuesday's closing price. Furthermore, SanDisk Corporation maintains 13 "buy" or better endorsements, compared to five "holds" and three "sell" or worse ratings.

  • PCLN saw its price target lifted to $1,500 from $1,250 at Jefferies, ahead of the company's fourth-quarter earnings report tomorrow afternoon. Raymond James also bumped its price target to $1,450 from $1,200. Elsewhere, options traders have also upped the bullish ante on Priceline.com Inc, which boasts a year-over-year gain of 85% to trade at $1,301.64. The stock's 10-day ISE/CBOE/PHLX call/put volume ratio of 1.24 ranks in the 88th percentile of its 12-month range, demonstrating an accelerated pace of call buying, relative to put buying, of late.

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