Schaeffer's Trading Floor Blog

Analyst Upgrades: Facebook Inc (FB), eBay, and Walgreen

Analysts upwardly revised their ratings on FB, EBAY, and WAG

by 1/2/2013 9:02 AM
Stocks quoted in this article:

Analysts are weighing in today on social networking site Facebook Inc (NASDAQ:FB - 26.62), Internet auctioneer eBay Inc (NASDAQ:EBAY - 51.00), and drugstore chain Walgreen Company (NYSE:WAG - 37.01). Here's a quick roundup of today's bullish brokerage notes.

  • FB -- which has advanced about 21% during the past three months -- scored a price-target hike to $35 from $29 at J.P. Morgan Securities this morning. (Meanwhile, Cowen and Co started coverage of the stock with a "neutral" rating.) Despite the equity's technical prowess of late, there are still a number of holdouts among the analyst crowd. FB sports 20 "buy" or better recommendations, compared nine "hold" or worse suggestions. This leaves some wiggle room for future upgrades, which could push the shares higher.

  • Up about 3% in pre-market trading, EBAY saw its price target lifted to $56 from $50 at Canaccord Genuity today. The security has climbed more than 68% during the past year, which may have been luring call players to the trading table over the last few weeks. The stock's 20-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio checks in at 1.71. In other words, calls bought to open have easily outpaced puts during the past month.

  • WAG was upgraded to "outperform" from "market perform" at Raymond James ahead of the open, which could help add to the stock's year-over-year gain of nearly 12%. Elsewhere, bearish speculation has been heating up on WAG lately. Short interest on the equity jumped by more than 19% during the most recent reporting period. These bearish bets now account for about 3% of the security's available float -- or the equivalent of more than three days' worth of pent-up buying demand, at WAG's average daily trading volume.

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