Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), QUALCOMM, Inc., and The Boeing Company

Analysts upwardly revised their ratings on FB, QCOM, and BA

by 1/30/2014 9:24 AM
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Analysts are weighing in today on social networking site Facebook Inc (NASDAQ:FB), digital communications specialist QUALCOMM, Inc. (NASDAQ:QCOM), and aerospace concern The Boeing Company (NYSE:BA). Here's a quick roundup of today's bullish brokerage notes.

  • More than 30 brokerage firms upwardly adjusted their position on FB, after the company posted impressive fourth-quarter earnings data after yesterday's close. Included in the mix were Deutsche Bank and J.P. Morgan Securities, which upped their price targets to $75 from $61, and to $80 from $62, respectively. Though Facebook Inc boasts a six-month advance of 51.1%, short interest jumped 37.5% during the last two reporting periods, bringing the total number of shares sold short to 44 million. Considering the shares are already poised to open roughly 18% higher out of the gate from yesterday's closing price of $53.53, these bearish bettors may hit the exits in the near term, providing FB with an additional boost.

  • Among the brokerage firms weighing in on QCOM's first-quarter earnings report are BMO and Canaccord Genuity, which both increased their price targets to $86 from their previous respective targets of $77 and $85. Technically speaking, 2014 has been relatively lackluster for QUALCOMM, Inc. so far, as the shares are down 4.2% to trade at $71.12. Meanwhile, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.34 is just 1 percentage point from a 12-month low, meaning short-term option traders have been more call-biased toward QCOM just 1% of the time during the past year.

  • Though BA dropped more than 5% in yesterday's session to land at $129.78, due to a weak earnings forecast for 2014, its stronger-than-expected earnings results for the fourth quarter led J.P. Morgan Securities to raise its price target to $165 from $162 (while Goldman Sachs reduced its price target). Heading into the quarterly event, options activity on The Boeing Company was bearishly skewed, per the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.76, which ranks higher than 85% of similar readings from the past year.

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