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Analyst Upgrades: Cisco Systems, Michael Kors, and DISH Network

Analysts upwardly revised their ratings on CSCO, KORS, and DISH

by 11/14/2012 9:07 AM
Stocks quoted in this article:

Analysts are weighing in today on tech concern Cisco Systems, Inc. (NASDAQ:CSCO - 16.85), clothing and accessories designer Michael Kors Holdings Ltd (NYSE:KORS - 51.01), and pay-TV provider DISH Network Corp. (NASDAQ:DISH - 35.17). Here's a quick roundup of today's bullish brokerage notes.

  • Up nearly 7% in pre-market action, CSCO was upgraded to "outperform" from "sector perform" at Pacific Crest this morning, after reporting better-than-expected fiscal first-quarter earnings post-close yesterday. (Piper Jaffray, however, lowered its price target for the stock to $21 from $22.) The equity has surrendered nearly 12% during the past year, yet the sentiment scales among analysts are still bullishly tipped. CSCO currently sports 18 "buy" or better endorsements, compared to 14 "holds" and not a single "sell" suggestion.

  • KORS received a price-target hike to $58 from $54 at Nomura today, thanks to quarterly earnings results that topped analysts' projections. The security has gained more than 87% year-to-date, which may be attracting call buyers. In fact, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 50-day call/put volume ratio of 1.86 for KORS. In other words, calls bought to open have nearly doubled puts during the past few months.

  • DISH -- which boasts a year-over-year advance of more than 45% -- saw its price target lifted to $35 from $31 at Jefferies ahead of the opening bell. The equity has also bested the broader S&P 500 Index (SPX) by almost 17 percentage points during the past two months, but that hasn't kept short sellers from gravitating toward DISH. Short interest on the equity soared by more than 68% during the past two reporting periods. However, the stock's bearish camp is far from crowded, as these pessimistic bets account for just over 1% of the security's float.

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