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Analysts are weighing in today on solar power company SunPower Corporation (NASDAQ:SPWR), biopharmaceutical concern Pfizer Inc. (NYSE:PFE) and gold miner Newmont Mining Corp (NYSE:NEM). Here's a quick roundup of today's bullish brokerage notes.
- SPWR received a round of bullish brokerage notes last week, amid news of the company's collaboration with Google Inc (NASDAQ:GOOGL) and Thursday evening's upbeat first-quarter earnings report. This optimistic activity has rolled over in today's pre-market trading, with Credit Suisse lifting its price target on the stock to $35 from $29. Nevertheless, there is still a healthy amount of pessimism toward SPWR. Currently, 37.1% of the stock's available float is sold short, which is equivalent to almost six sessions' worth of pent-up buying demand, at the shares' average pace of trading. Meanwhile, on the charts, SunPower Corporation ran 28.8% higher over the past five sessions to perch at $34.18.
- Amidst PFE's discussion of a possible merger with AstraZeneca plc (ADR) (NYSE:AZN) this morning, Citigroup raised its price target on the former stock to $36 from $31. Meanwhile, in the options pits, Pfizer Inc. -- which is down 4.4% on a one-month basis to trade at $30.75 -- is seeing heavier-than-usual call activity (relative to put activity) among options expiring within the next three months. This is evidenced by the fact that the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.67 ranks lower than 65% of comparable readings taken during the past 12 months.
- CIBC upgraded NEM to "sector performer" from "sector underperformer," and increased its price target by $6 to $33, amid news that the mining company terminated its merger discussions with Barrick Gold Corporation (USA) (NYSE:ABX). Furthermore, TD Securities lifted its price target to $26 from $24 this morning, as well. Elsewhere, Newmont Mining Corp -- which is up nearly 15% year-to-date to trade at $26.45 -- maintains mostly bearish brokerage recommendations, with 14 of the 16 covering analysts dishing out "hold" or worse ratings. Plus, the average 12-month price target of $25.79 denotes expected downside of 2.5% to the shares' current price.