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Analysts are upwardly revising their ratings today on auto giant Ford Motor Company (NYSE:F), athletic apparel specialist Nike Inc (NYSE:NKE), and data storage provider SanDisk Corporation (NASDAQ:SNDK). Here's a quick look at today's bullish brokerage notes on F, NKE, and SNDK.
- F today landed a price-target hike to $20 from $19 at Barclays, and to $21 from $18 at Goldman Sachs. These upwardly revised targets aren't too far above $17.47, where Ford Motor Company shares finished on Friday -- but they're north of the stock's current 52-week high of $18.02, which was tagged back in October. Second-quarter earnings from F are due out next Thursday, July 24, and options traders are betting bullishly ahead of the event. During the past 10 days, speculative players on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 5.14 calls for every put on the automaker.
- UBS increased its price target on NKE to $90 from $85, implying expected upside of more than 16% from Friday's close at $77.29. Shares of Nike Inc are up 21.4% year-over-year, and they've found support in recent months at their 50-week moving average. However, most brokerage firms have slightly lower expectations than UBS, with the average 12-month price target for NKE weighing in at $85.88.
- Stifel Nicolaus upped its SNDK price target to $114 from $95 and backed its "buy" rating, with the firm forecasting an extended stay in triple-digit territory for the tech stock. Shares of SanDisk Corporation made a decisive move above the $100 mark on June 16, and settled Friday at $104.97. SNDK is likely to remain in the spotlight this week, as second-quarter earnings are due out after the market closes this Wednesday, July 16. In its past four quarterly reports, SNDK has bested analysts' profit estimates every time.