Stocks quoted in this article:
Analysts are weighing in today on social media kingpin Facebook Inc (NASDAQ:FB), satellite radio name Pandora Media Inc (NYSE:P), and IT services provider VMware, Inc. (NYSE:VMW). Here's a quick roundup of today's bullish brokerage notes.
- Stifel upped its price target on FB to $82 from $72 last night, after word hit the Street that the company will purchase drone maker Titan Aerospace. Facebook Inc has been a technical powerhouse for quite some time, advancing 150% year-over-year to trade at $68.80. Still, investors have upped the bearish ante on the stock recently, as short interest climbed 16.8% in the latest reporting period, bringing the total number of shares sold short to almost 40 million. Should FB's upward trajectory continue, the shares could end up benefiting from potential short-covering activity in the near term.
- P -- which tagged a fresh record high of $39.68 yesterday, before closing at $39.17 -- received an upgrade to "neutral" from "sell" at MKM Partners this morning. Elsewhere, nine of the 21 covering analysts also maintain skeptical "hold" or worse suggestions on Pandora Media Inc. Plus, the average 12-month price target of $34.67 denotes a discount to the shares' current perch. Should P continue to hit higher highs, more rounds of upgrades and/or price-target hikes may be in the cards, which could create technical tailwinds for the equity.
- VMW headed back into triple-digit territory for the first time since mid-January yesterday, before settling at $101.04. The stock's year-over-year gain now stands at roughly 35%. As such, Oppenheimer raised its price target on the stock to $110 from $105 earlier today. Despite the shares' technical strength, short interest grew 28.4% during the last two reporting periods, and now accounts for 20.7% of the stock's available float. It would take nearly seven sessions to cover these bearish bets, at VMware, Inc.'s average pace of trading.