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Analysts are weighing in today on tech heavyweight Intel Corporation (NASDAQ:INTC), Internet issue Yahoo! Inc. (NASDAQ:YHOO), and online review forum Yelp Inc (NYSE:YELP). Here's a quick roundup of today's bullish brokerage notes.
- A number of brokerage firms applauded INTC's first-quarter earnings win, including Deutsche Bank and Topeka Capital, which both lifted their price targets to $30 from $28 this morning. (B. Riley was the only firm to downwardly adjust its position, lowing its rating to "neutral" from "buy.") On the charts, Intel Corporation is up 13.9% from its Feb. 5 year-to-date low of $23.50 to trade at $26.77, and is poised for more gains in today's session. As such, INTC may receive more upgrades and/or price-target hikes in the near term, which could give the shares an extra boost. Currently, 17 of the 29 covering analysts maintain "hold" or worse ratings, while the average 12-month price target of $25.42 denotes a slight discount to the shares' current price.
- Meanwhile, a handful of brokerage firms weighed in on YHOO's first-quarter revenue growth. This includes Susquehanna, which raised its price target by $3 to $42, and Jefferies, which resumed coverage on the stock with a "buy" rating and a price target of $50. (CRT Capital, on the other hand, cut its price target by $2 to $45.) Year-over-year, Yahoo! Inc. is up 43.8% to trade at $34.21, and is looking at a potential 8% gain out of the gate this morning. Considering, 13 of the 27 covering analysts have dished out "hold" suggestions on YHOO, the door is wide open for more upgrades in the near future, which could create additional technical tailwinds.
- Although YELP is down 38% from its March 5 record high of $101.75 to trade at $63.06, Citigroup upped its rating on the stock to "buy" from "neutral" this morning. Meanwhile, in Yelp Inc's options pits, short-term speculators are choosing calls over puts at a greater-than-usual rate, as the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.59 ranks lower than 79% of comparable readings from the past year.