Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), The Boeing Company, and Williams-Sonoma, Inc.

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

by 5/22/2014 9:25 AM
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Analysts are weighing in today on social media giant Facebook Inc (NASDAQ:FB), aerospace concern The Boeing Company (NYSE:BA), and home furnishings retailer Williams-Sonoma, Inc. (NYSE:WSM). Here's a quick roundup of today's bullish brokerage notes.

  • Evercore upgraded FB to "overweight," and lifted its price target by $6 to $75 today, ahead of the company's annual shareholder meeting this afternoon. Looking at the charts, Facebook Inc hasn't had much to write home about recently -- the stock has lost 16.7% from its March 11 all-time high of $72.59 to linger near $60.49. Nevertheless, Evercore isn't the only brokerage firm to have waxed optimistic on the equity. Right now, 31 of the 34 covering analysts maintain "buy" or better endorsements, plus the average 12-month price target of $77.76 stands in uncharted territory, and 28.6% above the shares' current price. An extension of FB's technical woes may cause a change of heart among the bulls of Wall Street, which could add more pressure on the shares.

  • BA -- which is down roughly 4% year-to-date to trade at $130.96 -- received a downgrade to "hold" from "buy" at Drexel Hamilton this morning, in the wake of yesterday's annual investor meeting. Meanwhile, in the options pits, The Boeing Company sports a Schaeffer's put/call open interest ratio (SOIR) of 1.27, which ranks in the top 12% of its annual range. In other words, put open interest (relative to call open interest) is heavier than usual among BA options expiring within the next three months.

  • More than a half dozen analysts awarded WSM with bullish brokerage notes this morning, after the company last night announced an increase in first-quarter earnings. Brokerage firms weighing in included Oppenheimer and UBS, which both upped their price targets to $68 from $67 and $65, respectively, this morning. Heading into the quarterly event, Williams-Sonoma, Inc. -- which is up 9.4% year-to-date to perch at $63.73, and poised to open solidly higher today -- maintained a SOIR of 1.33, which ranks in the 69th annual percentile. This means short-term option traders are more put-focused than usual toward the equity right now.
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