Schaeffer's Trading Floor Blog

Analyst Upgrades: Microsoft Corporation, Broadcom Corporation, and Intuitive Surgical, Inc.

Analysts upwardly revised their ratings on MSFT, BRCM, and ISRG

by 7/23/2014 9:13 AM
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Analysts are weighing in today on blue chip Microsoft Corporation (NASDAQ:MSFT), semiconductor concern Broadcom Corporation (NASDAQ:BRCM), and medical device maker Intuitive Surgical, Inc. (NASDAQ:ISRG), which all stepped into the earnings confessional last night. Here's a quick roundup of today's bullish brokerage notes.

  • MSFT is lifting the Dow ahead of the open, with the shares pointed 1.5% higher in pre-market trade. In fact, the stock -- which settled at $44.83 on Tuesday -- could be aiming for a new 14-year high, thanks to a well-received second-quarter earnings report. As a result, no fewer than five brokerage firms have hiked their price targets on Microsoft Corporation, and Pacific Crest upgraded the security to "outperform" from "sector perform." There's still plenty of room on the bullish bandwagon, too, as just 10 out of 23 analysts consider MSFT a "buy" or better.

  • BRCM is poised to pop 3.9% this morning, after settling at $38.75 yesterday. Speculators are celebrating the company's second-quarter earnings report, along with news that Broadcom Corporation will wind down -- not sell -- its cellular baseband chip unit, and cut 2,500 jobs, or about 20% of its workforce. Monday's crop of option sellers are likely cheering the news, and the brokerage bunch is also taking an optimistic tone. Ahead of the bell, BRCM has scored no fewer than 11 price-target hikes, including revisions from Brean and Bernstein, which both upwardly adjusted their targets to $46.

  • Finally, ISRG is more than 13% higher in pre-market trading, as second-quarter earnings and revenue handily topped expectations, and the firm increased the low end of its full-year procedure growth forecast. As such, three brokerage firms have lifted their price targets on ISRG, and Raymond James and Stifel upgraded the shares (to "outperform" and "buy," respectively). Today's earnings-inspired rally could have the shorts sweating, as short interest represents more than a week's worth of pent-up buying demand, at Intuitive Surgical, Inc.'s average pace of trading. At Tuesday's close, ISRG was docked at $392.16.

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