Schaeffer's Trading Floor Blog

Analyst Upgrades: QUALCOMM, Inc., Netflix, Inc., and The Walt Disney Company

Analysts upwardly revised their ratings on QCOM, NFLX, and DIS

by 4/17/2014 9:22 AM
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Analysts are weighing in today on digital communications expert QUALCOMM, Inc. (NASDAQ:QCOM), streaming content provider Netflix, Inc. (NASDAQ:NFLX), and entertainment heavyweight The Walt Disney Company (NYSE:DIS). Here's a quick roundup of today's bullish brokerage notes.

  • Stifel lifted its price target on QCOM to $83 from $80 this morning, as the shares have advanced nearly 8% in 2014 to trade at $80.18. Options activity on QUALCOMM, Inc. has been relatively bullish recently, as well. The equity sports a 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 5.07, with calls bought to open outnumbering puts by a margin of 5-to-1. What's more, this ratio ranks just 2 percentage points from a 12-month peak, pointing to a near-annual-high rate of call buying, relative to put buying, during the past two weeks. Looking ahead, QCOM will report fiscal second-quarter earnings after next Wednesday's close.

  • NFLX -- which will head into the earnings confessional Monday evening -- saw its stock's rating upgraded to "outperform" from "sector perform" at Pacific Crest earlier today. Ahead of the quarterly event, Netflix, Inc.'s short-term option traders are trading calls over puts at an annual-high rate, as the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.77 ranks the lowest of all other comparable readings taken during the past year. This may come as a surprise, considering NFLX shares are down 27.6% from their March 6 record high of $458 to trade at $331.41.

  • Overnight, Evercore upped its price target on DIS to $85 from $80, ahead of the company's Investor Day at ESPN this afternoon. On the charts, The Walt Disney Company has had a slow first half of the month, currently sitting just 1.4% below its month-to-date flat line, at $78.95. Regardless, the brokerage bunch has handed out 13 "buy" or better endorsements on the stock, compared to nine "holds" and not a single "sell" suggestion. Furthermore, the average 12-month price target among analysts comes in at $82.52, denoting a slight premium to the shares' current price.

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