Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), LinkedIn Corp, and Questcor Pharmaceuticals Inc

Analysts upwardly revised their ratings on FB, LNKD, and QCOR

by 2/26/2014 9:26 AM
Stocks quoted in this article:

Analysts are weighing in today on online networking platforms Facebook Inc (NASDAQ:FB) and LinkedIn Corp (NYSE:LNKD), as well as biopharmaceutical company Questcor Pharmaceuticals Inc (NASDAQ:QCOR). Here's a quick roundup of today's bullish brokerage notes.

  • I mentioned before that more price-target hikes could be on the way for FB, which refuses to slow its run up the charts. This morning, Cowen and Company proved my theory correct, when the firm increased its price target on the stock by $5 to $85. However, considering the average 12-month price target of $70.43 still denotes a slight discount to Facebook Inc's recent record high of $71.44, the door remains propped open for more brokers to up their stances on the equity. Year-over-year, FB shares have climbed a whopping 155% to their present perch of $69.85.

  • Though LNKD has shed 12.7% over the past six months to trade at $209.84, RBC this morning upgraded the stock to "outperform" from "sector perform," and raised its price target to $250 from $225. In the options pits, activity appears to be bullishly slanted, as well. The equity's Schaeffer's put/call open interest ratio (SOIR) of 0.77 ranks lower than 87% of comparable readings from the past 12 months, meaning demand for calls over puts among short-term speculators is nearing annual-high levels. However, a continuation of LinkedIn Corp's downward trajectory may lead to a capitulation among bullish bettors, which could create technical headwinds for the shares.

  • QCOR reported stronger-than-expected fourth-quarter earnings last night, leading Jefferies to up its price target to $89 from $76. Piper Jaffray and Oppenheimer also lifted their outlooks on the shares. In 2014, the stock has already gained an impressive 44.4% to perch at $78.65, yet short interest accounts for a lofty 35.1% of the equity's available float. It would take nearly eight sessions to cover these bearish bets, at Questcor Pharmaceuticals Inc's average pace of trading.

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