Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), Advanced Micro Devices, Inc., and Las Vegas Sands Corp.

Analysts upwardly revised their ratings on FB, AMD, and LVS

by 7/25/2013 9:16 AM
Stocks quoted in this article:

Analysts are weighing in today on social networking site Facebook Inc (NASDAQ:FB), semiconductor name Advanced Micro Devices, Inc. (NYSE:AMD), and casino operator Las Vegas Sands Corp. (NYSE:LVS). Here's a quick roundup of today's bullish brokerage notes.

  • FB was on the bullish radar this morning, following last night's turn in the earnings confessional. JMP Securities raised the stock to "market outperform" from "market perform," while brokerage firms including Wells Fargo, Wedbush Securities, Goldman Sachs, Jefferies, and Morgan Stanley also issued upgrades and/or price-target hikes. Facebook Inc has shed nearly 10% during the past year, yet sentiment among the analyst crowd was optimistically skewed prior to today. The equity maintains 24 "buy" or better ratings, versus five "holds" and zero "sell" suggestions, and its average 12-month price target of $32.26 denotes expected upside of about 21.7% from yesterday's closing price of $26.51. In other words, a round of downgrades and/or price-target cuts could be in the cards for FB, which could pressure the shares lower.

  • AMD -- which boasts a year-to-date advance of more than 51% to linger in the $3.63 neighborhood -- received a price-target boost to $10 from $8 at Topeka ahead of the opening bell. Advanced Micro Devices, Inc. has also outperformed the broader S&P 500 Index (SPX) by roughly 29 percentage points over the last three months, which could explain the bevy of call activity occurring in the options pits lately. In fact, the equity's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio checks in at 3.25. Or, in simpler terms, speculators on these exchanges have bought to open more than three calls for every put during the past couple of weeks.

  • Up about 46.5% on a year-over-year basis to trade at $54.95, LVS scored some upbeat attention this morning, after reporting that its second-quarter profit more than doubled from the year-ago period yesterday. Sterne Agee lifted its price target to $67 from $63, while Susquehanna, Janney, and Nomura also handed out upward price-target adjustments. Elsewhere, the Schaeffer's put/call open interest ratio (SOIR) for Las Vegas Sands Corp. sits at 0.46, with calls more than doubling puts among options scheduled to expire within the next three months. This ratio ranks lower than 96% of similar readings taken during the last 12 months, meaning short-term traders have been more call-heavy toward the stock just 4% of the time over the past year.

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