Schaeffer's Trading Floor Blog

Analyst Upgrades: Apple Inc. (AAPL), American International Group Inc, and VMware, Inc.

Analysts upwardly revised their ratings on AAPL, AIG, and VMW

by 5/29/2014 9:18 AM
Stocks quoted in this article:

Analysts are weighing in today on tech giant Apple Inc. (NASDAQ:AAPL), global insurance issue American International Group Inc (NYSE:AIG), and IT services provider VMware, Inc. (NYSE:VMW). Here's a quick roundup of today's bullish brokerage notes.

  • AAPL went further into annual-high territory yesterday, climbing as high as $629.83, before settling at $624.01 at the closing bell. Also, last night, the company announced it has finally acquired headphone maker Beats Electronic for $3 billion, after which the equity received another round of bullish brokerage notes. To be specific, Piper Jaffray and UBS upped their price targets to $732 from $640, and to $700 from $625, respectively, and BofA-Merrill Lynch increased its own price target by $35 to $650. Meanwhile, in the options pits, Apple Inc.'s Schaeffer's put/call open interest ratio (SOIR) of 0.68 ranks in the 67th annual percentile, meaning put open interest (relative to call open interest) is heavier than usual among options expiring within the next three months.

  • AIG -- which is up just 4.8% so far this year to perch at $53.48 -- saw its price target lifted to $58 from $55 at Deutsche Bank this morning. Elsewhere, eight brokerage firms have awarded the equity with "strong buy" endorsements, while 10 maintain tepid "hold" ratings. Furthermore, the average 12-month price target among covering analysts is $57.25, representing a modest 7% premium to American International Group Inc's current price.

  • Finally, Piper Jaffray upgraded VMW to "overweight" from "neutral" this morning. While VMware, Inc. has tacked on 6.6% over the past month to trade at $96.03, short interest still accounts for a lofty 20.8% of the stock's available float. It would take nearly 13 sessions to cover these bearish bets, at the shares' average pace of trading.
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