Schaeffer's Trading Floor Blog

Analyst Upgrades: Green Mountain Coffee, Symantec, and TiVo

Analysts upwardly revised their ratings on GMCR, SYMC, and TIVO

by 11/28/2012 9:05 AM
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Analysts are weighing in today on java giant Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR - 28.95), data storage provider Symantec Corporation (NASDAQ:SYMC - 18.01), and entertainment software developer TiVo Inc. (NASDAQ:TIVO - 10.21). Here's a quick roundup of today's bullish brokerage notes.

  • Up more than 21% in pre-market action, GMCR received price-target hikes at Canaccord Genuity (to $45 from $39) and Lazard (to $42 from $39) this morning, after reporting stronger-than-expected fourth-quarter earnings and raising its fiscal 2013 outlook. The security has surrendered about 41% from the year-ago period, but that hasn't fazed near-term bulls. Schaeffer's put/call open interest ratio (SOIR) for GMCR sits at 0.76, indicating calls outstrip puts among options expiring in the next three months. This ratio hovers just two percentage points above a yearly low, meaning short-term traders have rarely been more call-heavy toward the stock during the past year.

  • SYMC -- which sits on a year-to-date advance of 15% -- saw its price target raised to $20 from $17 at FBR ahead of the opening bell. Meanwhile, call-buying has been running rampant on the equity, according to data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). In fact, SYMC's 10-day call/put volume ratio arrives at 154.50, confirming traders have bought to open a whopping 155 calls for every put during the past two weeks. This ratio ranks higher than 99% of similar readings taken within the past 12 months, signaling speculators have been snatching up calls over puts at a near annual-high clip.

  • As TIVO prepares to report quarterly earnings after today's close, the equity scored an upward price-target adjustment to $15 from $14 at Jefferies this morning. The stock has gained nearly 14% so far this year -- while also besting the broader S&P 500 Index (SPX) by almost 13 percentage points during the past three months -- yet bearish speculation on TIVO remains alive and well. Short interest on the equity rose by roughly 11% during the most recent reporting period, and now accounts for a lofty 11% of its available float. It would take close to seven days to unwind these pessimistic bets, at the security's average pace of trading.

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