Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), Hewlett-Packard Company, and Salesforce.com, inc.

Analysts upwardly revised their ratings on FB, HPQ, and CRM

by 2/21/2014 9:23 AM
Stocks quoted in this article:

Analysts are weighing in today on social networking site Facebook Inc (NASDAQ:FB), technology expert Hewlett-Packard Company (NYSE:HPQ), and cloud computing specialist Salesforce.com, inc. (NYSE:CRM). Here's a quick roundup of today's bullish brokerage notes.

  • Janney upped its price target on FB this morning to $71, becoming the latest brokerage firm to weigh in on the social networking king following its WhatsApp acquisition. Not surprisingly, in the options pits, short-term speculators have been relatively call-heavy toward Facebook Inc recently. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.56 ranks lower than 65% of comparable readings from the past year. On the charts, FB has been a long-term technical powerhouse, gaining 155.2% on a year-over-year basis to perch at $69.63.

  • HPQ's upbeat fiscal first-quarter earnings report led a group of brokerage firms to upwardly adjust their positions on the stock. This includes Barclays and RBC, which both increased their respective price targets to $33 from $28 overnight. In the 50 sessions leading up to the quarterly announcement, Hewlett-Packard Company -- which sports a three-month gain of 21.1% to trade at $30.19 -- racked up an International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.32, which ranks in the 79th annual percentile. In other words, speculators have bought to open calls over puts at an accelerated pace of late.

  • CRM -- up 14.2% year-to-date to trade at $63.01 -- received a price-target hike to $70 from $62 at BMO earlier today. Elsewhere, the equity has acquired a healthy amount of short interest, as these bearish bets account for 8.5% of the stock's available float. It would take nearly two weeks to cover the shorted shares, at Salesforce.com, inc.'s average pace of trading.

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