Schaeffer's Trading Floor Blog

Analyst Upgrades: Research In Motion, American International Group, and TiVo

Analysts upwardly revised their ratings on RIMM, AIG, and TIVO

by 12/5/2012 9:04 AM
Stocks quoted in this article:

Analysts are weighing in today on BlackBerry maker Research In Motion Limited (USA) (NASDAQ:RIMM - 11.56), insurance firm American International Group, Inc. (NYSE:AIG - 33.32), and digital-video-recording pioneer TiVo Inc. (NASDAQ:TIVO - 10.21). Here's a quick roundup of today's bullish brokerage notes.

  • With quarterly earnings looming on the horizon, RIMM saw its price target lifted to $12 from $9.50 at TD Securities this morning. The security has shed about 32% during the past year, but that hasn't fazed short-term bulls. The stock's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.60, with calls nearly doubling puts among options scheduled to expire in the next three months. This ratio hovers just seven percentage points from an annual low, confirming near-term traders have rarely been more call-heavy toward RIMM during the last 12 months.

  • AIG was upgraded to "buy" from "hold" at Argus today, which could help add to the stock's year-to-date gain of roughly 44%. Meanwhile, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 3.65 for AIG, indicating calls bought to open have more than tripled puts during the past couple of weeks. This ratio arrives in the 65th annual percentile, meaning traders have been scooping up calls over puts at an accelerated clip.

  • Up nearly 32% so far this year, TIVO received a price-target hike to $13 from $11 at Barclays ahead of the opening bell. The stock has also outperformed the broader S&P 500 Index (SPX) by about 24 percentage points over the last three months, yet bearish speculators remain undaunted. Short interest on TIVO jumped by nearly 19% during the last two reporting periods, and now accounts for a lofty 12% of the equity's available float. It would take almost eight days to cover these shorted shares, at the security's average pace of trading.

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