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Analysts are weighing in today on tech concern Cirrus Logic, Inc. (NASDAQ:CRUS - 28.96), retailer Aeropostale, Inc. (NYSE:ARO - 20.35), and farm-equipment maker Deere & Company (NYSE:DE - 78.10). Here's a quick roundup of today's bullish brokerage notes.
- Just hours ahead of its earnings release, CRUS scored a bullish brokerage note. Specifically, Canaccord Genuity launched coverage on the stock with a "buy" rating. The brokerage firm is likely bracing for a post-earnings pop for CRUS, which has matched or exceeded the Street's bottom-line earnings estimate in three of the past four quarters, according to Thomson Reuters. However, not everyone is so hopeful; short interest jumped 8.4% during the most recent reporting period, and now represents nearly four sessions' worth of pent-up buying demand, at CRUS' average pace of trading.
- Moving on, RBC upped its opinion of ARO to "outperform" from "sector perform." The shares have outperformed the broader S&P 500 Index (SPX) by nearly 19 percentage points during the past 20 sessions, yet there's still plenty of room on the bullish bandwagon. Currently, just half of the 20 analysts following ARO consider it worthy of a "buy" or better rating. Plus, the consensus 12-month price target of $23.06 implies expected upside of just 13% to the stock's closing price of $20.35 on Friday. Ahead of the bell, the shares of ARO are pointed 2.4% higher.
- Finally, DE is also headed into the black ahead of the bell. Early this morning, analysts at Piper Jaffray upgraded the security to "overweight" from "neutral." However, the brokerage bunch isn't the only group growing increasingly optimistic toward DE. During the past 10 sessions on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has racked up a call/put volume ratio of 1.89. What's more, this ratio registers in the 94th percentile of its annual range, suggesting options buyers have been scooping up calls over puts at a near annual-high clip during the past couple of weeks.