Schaeffer's Trading Floor Blog
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Analysts are weighing in today on IT services giant Cisco Systems, Inc. (NASDAQ:CSCO), oil-and-gas company Chesapeake Energy Corporation (NYSE:CHK), and global insurance issue American International Group Inc (NYSE:AIG). Here's a quick roundup of today's bullish brokerage notes.

  • In the wake of yesterday's annual investor day, CSCO -- which has tacked on 11.4% over the past two months to trade at $24.12 -- received a price-target hike to $28 from $25 at Stifel this morning. Elsewhere, Cisco Systems, Inc. sports a Schaeffer's put/call open interest ratio (SOIR) of 0.82, which is up 22.4% from its May 14 pre-earnings reading of 0.67. What's more, the current ratio stands in the 94th annual percentile, demonstrating short-term option traders have been more put-heavy than usual toward CSCO of late.

  • Oppenheimer lifted its price target on CHK to $35 from $30 overnight, after Moody's awarded the oil-and-gas company with a two-notch credit rating upgrade earlier in the evening. On the charts, Chesapeake Energy Corporation is up 13.6% on a two-month basis to perch at $28.02; however, the equity has a healthy amount of short interest stacked up against it. To be more specific, these bearish bets currently account for 8.7% of CHK's available float, which represents nearly seven sessions' worth of pent-up buying demand, at the shares' average daily volume.

  • Standing just 2.8% above its year-to-date flat line to linger near at $52.49, AIG received an upgrade to "buy," and a $13 price-target raise to $63, at Goldman Sachs this morning. By comparison, the average 12-month price target among covering analysts is $56.60, representing a modest 7.8% premium to the shares' current price. Ratings-wise, American International Group Inc sports eight "strong buy" endorsements, versus 10 "holds" and not a single "sell" suggestion.
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