Schaeffer's Trading Floor Blog

Analyst Upgrades: Netflix, Inc., Halozyme Therapeutics, Inc., and DragonWave, Inc. (USA)

Analysts issued bullish notes on NFLX, HALO, and DRWI

by 7/11/2014 8:44 AM
Stocks quoted in this article:

Analysts are upwardly revising their ratings today on streaming entertainment issue Netflix, Inc. (NASDAQ:NFLX), biopharmaceutical firm Halozyme Therapeutics, Inc. (NASDAQ:HALO), and Ethernet specialist DragonWave, Inc. (USA) (NASDAQ:DRWI). Here's a quick look at today's bullish brokerage notes on NFLX, HALO, and DRWI.

  • After the company's original programming landed some critical acclaim on Thursday, NFLX today snagged a price-target hike to $500 from $450 at Raymond James. Shares of Netflix, Inc. last traded at $438.55, so the brokerage firm is banking on 14% upside. To put that forecast in context, NFLX has rallied nearly 80% over the past 52 weeks.

  • J.P. Morgan Securities started coverage of HALO with an "overweight" rating and $13 price target, sending the shares up more than 5% ahead of the bell. The stock settled at $9.29 yesterday, toward the low end of its recent trading range between $9 and $10.50. Halozyme Therapeutics, Inc. has shed 38% of its value year-to-date, and there are quite a few bears banking on additional losses for the equity. Currently, no less than 19% of HALO's float is sold short.

  • DRWI attracted price-target boosts today from Canaccord Genuity (to $2 from $1.25), TD Securities (to $2.75 from $1), and Raymond James (to C$2 from C$1.50). Additionally, TD upgraded the shares to "hold" from "reduce." Earlier this week, DragonWave, Inc. (USA) reported a narrower-than-expected quarterly loss, and -- at $2.37 -- is now up 4.9% from last Thursday's close. DRWI is on pace to notch a second consecutive weekly finish above its 80-week moving average -- a technical feat the stock last accomplished in August 2013.

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