Schaeffer's Trading Floor Blog

Analyst Upgrades: J.C. Penney Company, Inc., Twitter Inc, and Electronic Arts Inc.

Analysts upwardly revised their ratings on JCP, TWTR, and EA

by 5/16/2014 9:19 AM
Stocks quoted in this article:

Analysts are weighing in today on retail chain J.C. Penney Company, Inc. (NYSE:JCP), microblogging platform Twitter Inc (NYSE:TWTR), and video game maker Electronic Arts Inc. (NASDAQ:EA). Here's a quick roundup of today's bullish brokerage notes.

  • JCP is poised to make a significant move up the charts today, following last night's well-received first-quarter earnings report. A handful of brokerage firms cheered the company's results by upwardly adjusting their positions on the stock. This includes Deutsche Bank and UBS, which lifted their price targets to $10 from $6 and $9, respectively. Looking back over the past three months, JCP shares have tacked on more than 36% to their current perch at $8.37. Nevertheless, the equity still has a number of analysts to impress, as 16 of the 19 covering firms maintain "hold" or worse suggestions. Furthermore, the average 12-month price target on J.C. Penney Company, Inc. lingers at $7.86 -- 6.1% below the stock's current price.

  • TWTR -- which is down 48.5% year-to-date to trade at $32.77 -- has been on analysts' radar this week, and today, the stock received an upgrade to "hold" from "sell" at Wunderlich. (The brokerage firm also cut its price target by $3, however, to $35.) Meanwhile, short interest on Twitter Inc climbed 9.5% during the past two reporting periods, and now accounts for more than 50 million shares. This represents about 15% of the equity's available float.

  • Up 47.3% so far this year to perch at $33.79, EA saw its price target increased to $39 from $36 at Longbow this morning. Elsewhere, the equity still has a healthy amount of bearish sentiment built up on it, with short interest currently making up 8.6% of the stock's available float. At Electronic Arts Inc.'s average pace of trading, it would take more than eight sessions to cover these bearish bets.

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