Schaeffer's Trading Floor Blog

Analyst Upgrades: Goldman Sachs Group Inc, FireEye Inc, and Monsanto Company

Analysts issued bullish notes on GS, FEYE, and MON

by 7/16/2014 8:45 AM
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Analysts are upwardly revising their ratings today on financial services firm Goldman Sachs Group Inc (NYSE:GS), online security specialist FireEye Inc (NASDAQ:FEYE), and agricultural concern Monsanto Company (NYSE:MON). Here's a quick look at today's bullish brokerage notes on GS, FEYE, and MON.

  • After the company's well-received Tuesday earnings report, GS attracted five price-target hikes this morning. SunTrust Robinson has the highest expectations for Goldman Sachs Group Inc, raising its target to $190 from $176. However, all five firms weighing in on GS today -- SunTrust, RBC, KBW, J.P. Morgan Securities, and Barclays -- maintain the equivalent of a "hold" or "sell" rating on the bank stock. GS has shed 4.6% year-to-date, and has lately been pinned by resistance in the $170 neighborhood. The stock settled Tuesday at $169.17, and is poised to open fractionally higher.

  • FEYE is set to jump 5% out of the gate today after Goldman Sachs started coverage of the shares with a "buy" rating and $42 price target. Shares of FireEye Inc have gained more than 32% from their May 15 year-to-date low of $25.58, ending Tuesday's session at $33.82. Today's high-profile bullish endorsement for FEYE may spook some of the bears betting against the stock into hitting the exits. Currently, short interest accounts for 15.3% of the equity's float, or 2.4 times its average daily trading volume.

  • Berenberg started coverage of MON with a "buy" rating and a $141 price target, implying expected upside of 17.5% from Tuesday's close at $119.98. Monsanto Company has been trending consistently higher for the past four years, with its ascent underlined by support at its 10-month and 20-month moving averages. In light of this positive price action, it's no surprise that 75% of analysts consider MON worthy of a "strong buy" recommendation.

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