Schaeffer's Trading Floor Blog

Analyst Upgrades: Adobe Systems Incorporated, Geron Corporation, and Yahoo! Inc.

Analysts upwardly revised their ratings on ADBE, GERN, and YHOO

by 12/10/2013 9:21 AM
Stocks quoted in this article:

Analysts are weighing in today on software giant Adobe Systems Incorporated (NASDAQ:ADBE), cancer treatment specialist Geron Corporation (NASDAQ:GERN), and Internet portal Yahoo! Inc. (NASDAQ:YHOO). Here's a quick roundup of today's bullish brokerage notes.

  • ADBE earned a pair of bullish notes this morning, with J.P. Morgan Securities and Jefferies handing out identical price-target hikes to $65 from $57. Both firms maintain a "buy" rating on Adobe Systems Incorporated, which has gained more than 47% year-to-date to trade at $55.44. In light of the stock's uptrend, more analysts could be prompted to upwardly revise their forecasts for ADBE. Currently, the stock's average 12-month price target stands at $55.33, representing a fractional discount to Monday's close.

  • Needham raised its rating on GERN to "buy" from "hold," and the shares have surged roughly 8% in electronic trading. Today's bullish note and the big pre-market rally have been prompted by the release of promising imetelstat data at the American Society of Hematology meeting. Geron Corporation has already jumped more than 291% in 2013, and today's early momentum has the stock on pace to reclaim a foothold above its 10-day moving average. GERN closed Monday at $5.52.

  • After last night's close, RBC Capital Markets raised its price target on YHOO to $44 from $38 and backed its "outperform" rating. Brokerage firms are pretty evenly split on Yahoo! Inc., which has advanced 100% over the past 52 weeks to rest at $38.87. The stock has racked up 13 "buy" or better recommendations, along with 12 tepid "holds." YHOO is fractionally higher ahead of the bell, continuing a recent breakout above support at its 10-week and 20-week moving averages.

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