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Analysts are weighing in today on social networking site Facebook Inc (NASDAQ:FB - 25.91), blue chip Intel Corporation (NASDAQ:INTC - 20.23), and drug maker Bristol-Myers Squibb Company (NYSE:BMY - 31.90). Here's a quick roundup of today's notable brokerage notes.
- FB scored a double dose of upbeat analyst attention this morning. First, Stifel upped its price target on the equity to $31 from $26, and reiterated its "buy" recommendation. Meanwhile, BMO upgraded the stock to "outperform" from "underperform," and more than doubled its price target, to $32 from $15. Both companies also lifted their earnings estimates for FB through 2013. Ahead of the bell, the shares of FB are poised to fly in the face of fiscal-cliff headwinds, with the stock pointed 1.3% higher. From a longer-term perspective, the equity has jumped about 47.6% since touching a post-IPO low of $17.55 in early September, and could get a lift from its ascending 10-week moving average.
- Wells Fargo waxed optimistic on INTC, upping its 2013 earnings-per-share estimates by 4%. Furthermore, the brokerage firm said "secular themes such as cloud computing and data traffic created by mobile computing" could be a significant boon to server-related processor growth over the next few years, and the company's Atom platform presents an "opportunity to gain share in the smartphone and tablet markets." Separately, INTC is reportedly preparing to debut a combo cable/streaming-TV service at the Consumer Electronics Show (CES) next week. At last look, the shares of INTC are headed for an opening gain of roughly 1%.
- Finally, BMY is set to open about 2% higher, thanks to optimism regarding Eliquis, its anti-clotting treatment with Pfizer Inc. (NYSE:PFE). Specifically, the drug recently scored FDA approval to treat patients with irregular heartbeats, and the two companies will be able to label the drug as "superior" to rival warfarin regarding stroke prevention. Against this backdrop, analysts at Atlantic Equities upgraded BMY to "neutral" from "underweight," marking a relatively rare bullish note for the stock. Currently, the security boasts just seven "buy" or better ratings, compared to 13 "hold" or worse suggestions.