Schaeffer's Trading Floor Blog

Analyst Upgrades: BlackBerry, Yahoo!, and St. Jude Medical

Analysts upwardly revised their ratings on BBRY, YHOO, and STJ

by 2/4/2013 9:18 AM
Stocks quoted in this article:

Analysts are weighing in today on mobile device giant BlackBerry (NASDAQ:BBRY - 13.02), Internet issue Yahoo! Inc. (NASDAQ:YHOO - 19.76), and medical equipment manufacturer St. Jude Medical, Inc. (NYSE:STJ - 41.17). Here's a quick roundup of today's bullish brokerage notes.

  • Up nearly 10% so far this year -- and debuting a new company moniker -- BBRY was upgraded to "outperform" from "market perform" at Bernstein this morning, who also boosted its price target to $22 from $12. Nevertheless, there is still plenty of skepticism among the brokerage bunch. Only three analysts have deemed the stock worthy of a "buy" or better endorsement, compared to 15 "holds," and 14 "sell" or worse suggestions. Even more telling, the security's average 12-month price target of $10.69 reflects a discount to Friday's closing price of $13.02. This leaves plenty of room for future upgrades and/or price-target hikes, which could help push the shares higher.

  • YHOO -- which boasts a year-over-year gain of more than 24% -- was lifted to "buy" from "hold" at Stifel Nicolaus ahead of the opening bell. The stock has also outpaced the broader S&P 500 Index (SPX) by almost 7 percentage points during the past three months. Surprisingly, there is still an ample amount of pessimism levied toward YHOO, which could translate into contrarian tailwinds in the near term. No fewer than 21 analysts believe the stock to be a "hold" or "sell," and the consensus 12-month price target of $21.75 is just a stone's throw from the equity's current perch.

  • STJ was lifted to "outperform" from "neutral" at Credit Suisse today, while analysts at Mizuho Securities upwardly revised the stock's price target to $48 from $46. The equity has climbed nearly 14% year-to-date, yet puts have a considerable edge over calls, as evidenced by STJ's 10-day International Securities Exchange (ISE)/Chicago Board Options Exchange (CBOE)/NASDAQ OMX PHLX (PHLX) put/call volume ratio of 10.81. Or in simpler terms, traders have bought to open nearly 11 puts for every call over the past couple of weeks. This ratio ranks higher than 94% of comparable readings taken within the past year, indicating speculators have been snapping up puts over calls at a near annual-high pace.

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