Schaeffer's Trading Floor Blog

Analyst Upgrades: Twitter Inc, NVIDIA Corporation, and Priceline Group Inc

Analysts upwardly revised their ratings on TWTR, NVDA, and PCLN

by 5/9/2014 9:21 AM
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Analysts are weighing in today on microblogging platform Twitter Inc (NYSE:TWTR), chipmaker NVIDIA Corporation (NASDAQ:NVDA), and online travel company Priceline Group Inc (NASDAQ:PCLN). Here's a quick roundup of today's bullish brokerage notes.

  • TWTR may be in rebound mode, as the shares regained 4.2% yesterday to trade at $31.96, following a recent bout of technical woes (including a move to new all-time lows). As such, Twitter Inc received its second bullish brokerage note of the week, with BofA-Merrill Lynch upgrading the stock to "neutral" from "underperform" ahead of today's opening bell. Meanwhile, on Main Street, sentiment remains bearishly skewed toward TWTR. Short interest on the equity climbed 11.4% during the last two reporting periods, now accounting for 14.1% of the stock's available float. This translates into nearly four sessions' worth of pent-up buying demand, at the shares' average pace of trading.

  • NVDA's updated commentary on first-quarter earnings inspired a number of brokerage firms to upwardly adjust their positions on the stock. Among the bulls on Wall Street this morning were Jefferies and J.P. Morgan Securities, which both upped their respective price targets to $19 from $18. Heading into last night's update, 16 of the 25 covering analysts maintained "hold" or worse suggestions on NVIDIA Corporation, despite its 16.6% advance over the past three months to its current perch at $18.50. Furthermore, the average 12-month price target comes in at $18.33, just a stone's throw away from NVDA's current price.

  • PCLN also reported stronger-than-expected results for the first quarter last night, leading UBS to lift its price target to $1,500 from $1,480 this morning. (On the other hand, Deutsche Bank and two other brokerage firms lowered their respective price targets.) Over the past two months, Priceline Group Inc has shed 18.4% of its value to trade at $1,108.00. However, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.69 ranks the lowest of all comparable readings taken during the past 52 weeks. In other words, short-term PCLN option traders are more call-heavy now than they have been at any other time within the past year.

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