Schaeffer's Trading Floor Blog

Analyst Upgrades: Nokia Corporation (ADR), Alcatel Lucent SA (ADR), and ARM Holdings plc (ADR)

Analysts upwardly revised their ratings on NOK, ALU, and ARMH

by 7/3/2013 9:07 AM
Stocks quoted in this article:

Analysts are weighing in today on mobile phone maker Nokia Corporation (ADR) (NYSE:NOK), tech issue Alcatel Lucent SA (ADR) (NYSE:ALU), and microprocessor designer ARM Holdings plc (ADR) (NASDAQ:ARMH). Here's a quick roundup of today's bullish brokerage notes.

  • NOK saw its price target lifted to 2.20 euros from 1.85 euros at Deutsche Bank in pre-market activity, marking a second straight day of bullish analyst attention. Nokia Corporation (ADR) has soared nearly 80% during the past year, yet sentiment remains pessimistically slanted toward the security. Only five analysts have handed out "buy" or better endorsements, compared to six "holds" and six "sell" or worse suggestions. Even more telling, the stock's average 12-month price target of $3.33 reflects a discount to yesterday's closing price of $3.83. In other words, further upgrades and/or price-target hikes could be on the horizon for NOK.

  • Up roughly 27% year-to-date to trade at $1.76, ALU scored a price-target hike to 2.20 euros from 1.80 euros at HSBC ahead of the opening bell. Meanwhile, near-term traders have been showing their confidence in Alcatel Lucent SA (ADR). The stock's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.07, confirming calls outpace puts by a margin of more than 14-to-1 among options scheduled to expire within the next three months. In fact, this ratio hovers just 1 percentage point above a yearly nadir, signaling short-term speculators have rarely been more call-heavy toward the equity during the past 12 months.

  • ARMH -- which sports a 52-week gain of almost 50% to perch at $36.41 -- was upgraded to "buy" from "neutral" at UBS this morning. Meanwhile, the security's calls seem to have an edge over their bearish counterparts lately, according to data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). ARM Holdings plc (ADR) sports a 10-day call/put volume ratio of 1.10, indicating calls bought to open have outnumbered puts during the past two weeks. This ratio registers higher than 69% of similar annual readings, meaning traders have been scooping up calls over puts at an accelerated clip.

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