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Analysts are weighing in today on smartphone marker BlackBerry Ltd (NASDAQ:BBRY), yoga apparel maker Lululemon Athletica inc. (NASDAQ:LULU), and financial firm Wells Fargo & Co (NYSE:WFC). Here's a quick roundup of today's bullish brokerage notes.
- While BBRY reported a narrower quarterly loss on Friday, the company said sales growth is still a year away. The mixed results led a heap of brokerage firms to weigh in on the stock. Among the bullish analyst crowd, Canaccord Genuity and Baird lifted their price targets to $8 from $6 and $7, respectively, while Needham upgraded the equity to "hold" from "underperform." Meanwhile, BlackBerry Ltd shares slipped lower on Friday, but still maintain a year-to-date gain of about 13% to trade at $8.41. Plus, 22.4% of the equity's available float is sold short, and should BBRY continue on its upward trajectory, a short-squeeze scenario may be in the cards, which could end up translating into additional technical tailwinds for the shares.
- LULU -- which has bounced 7.6% to trade at $51.89 since reporting earnings ahead of the open on March 27 -- received more bullish attention from the brokerage bunch this morning. Specifically, Wedbush raised its price target to $64 from $54, and upped its rating to "outperform" from "neutral." Elsewhere, 14 of the 25 covering analysts maintain "hold" or worse suggestions on Lululemon Athletica inc.; however, the average 12-month price target of $59.32 denotes a 14.3% premium to the shares' current price.
- Raymond James increased its price target for WFC to $57 from $52, after the financial firm's capital plan was approved by the Federal Reserve last week. Meanwhile, in the options pits, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.75 ranks in the 20th annual percentile. This means Wells Fargo & Co -- which is up 6.2% over the past month to trade at $49.29 -- is seeing heavier-than-usual call open interest (relative to put open interest) among options expiring within three months.