Schaeffer's Trading Floor Blog

Analyst Upgrades: Oracle Corporation, NVIDIA Corporation, and Chesapeake Energy Corporation

Analysts upwardly revised their ratings on ORCL, NVDA, and CHK

by 4/1/2014 9:11 AM
Stocks quoted in this article:

Analysts are weighing in today on software concern Oracle Corporation (NYSE:ORCL), chipmaker NVIDIA Corporation (NASDAQ:NVDA), and oil-and-gas issue Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's bullish brokerage notes.

  • BMO this morning upped its price target on ORCL to $45 from $42, and reiterated its "outperform" endorsement. The shares of ORCL rocketed to a 13-year high of $41.43 in intraday action yesterday, before settling with a 3.4% gain at $40.91. However, despite the security's upward trajectory, there's still plenty of room on the bullish bandwagon. In fact, 10 of the 25 covering analysts maintain "hold" or "sell" opinions on the shares, and the average 12-month price target of $40.07 represents a discount to ORCL's current price. More upbeat analyst attention could propel Oracle Corporation shares even higher.

  • JMP Securities upgraded NVDA to "market outperform" from "market perform" this morning. Most analysts, however, remain skeptical of the stock, despite its year-to-date gain of 11.8%. Of the 24 brokerage firms following NVDA, just eight deem it worthy of a "strong buy," and the consensus 12-month price target of $17.66 stands south of the shares' closing price of $17.91 yesterday. Likewise, short interest represents nearly eight sessions' worth of pent-up buying demand, at NVDA's average pace of trading. Should NVIDIA Corporation shares extend their long-term ascent, a round of bullish brokerage notes and/or a short-squeeze situation could add contrarian fuel to the stock's fire.

  • Finally, Deutsche Bank hiked its price target on CHK by $6 to $30 -- in territory not charted by the shares since September 2011. The upbeat attention is relatively rare for CHK, which boasts just five "strong buys," compared to 19 tepid "holds" and one "strong sell" rating. Meanwhile, short interest accounts for more than 10% of Chesapeake Energy Corporation's total available float, and would take nearly seven sessions to unwind, at the equity's average pace of trading. On the charts, CHK has surrendered 5.6% in 2014, with recent rally attempts capped by its 80-month moving average. The stock closed at $25.62 on Monday.

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