Schaeffer's Trading Floor Blog

Analyst Upgrades: Broadcom Corporation, Intel Corporation, and CSX Corporation

Analysts upwardly revised their ratings on BRCM, INTC, and CSX

by 6/13/2014 9:19 AM
Stocks quoted in this article:

Analysts are weighing in today on semiconductor concerns Broadcom Corporation (NASDAQ:BRCM) and Intel Corporation (NASDAQ:INTC), plus rail-based transportation provider CSX Corporation (NASDAQ:CSX). Here's a quick roundup of today's bullish brokerage notes.

  • BRCM -- which is up 20% month-to-date to trade at $38.26 -- received another bullish brokerage note this week, with Canaccord Genuity lifting its price target to $46 from $42 this morning. Meanwhile, the average 12-month price target comes in at $38.80, just a chip-shot away from the shares' current perch. Ratings-wise, Broadcom Corporation boasts 20 "buy" or better endorsements; however, 12 of its covering analysts maintain tepid "hold" or "strong sell" suggestions, leaving the door open for additional upgrades.

  • More than 20 brokerage firms weighed in on INTC, after the company upwardly adjusted its second-quarter and full-year revenue and gross margin expectations last night. Among the bulls on Wall Street were Roth, which upped its rating to "buy" from "neutral," plus Jefferies and Credit Suisse, which both lifted their price targets by $5 to $40 and $35, respectively. On the charts, Intel Corporation maintains a year-to-date advance of 7.7% to trade at $27.96, and is now poised for significant gains in today's session. As such, the shares may end up benefiting from more upgrades and/or price-target hikes in the near future, considering 18 of the 29 covering analysts have "hold" or worse suggestions on the equity, and the average 12-month price target of $27.03 sits at a slight discount to the stock's current price.

  • CSX is sitting a modest 4.2% higher year-to-date at $29.99, and last night, the equity received a price-target increase to $32 from $30 at BMO. Meanwhile, in the options pits, CSX Corporation's Schaeffer's put/call open interest ratio (SOIR) sits at a 12-month low of 0.33. In other words, short-term call open interest on CSX (compared to put open interest) is at an annual-low level right now.

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