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Analyst Upgrades: CROX, FB, and PANL

Analysts upwardly revised their ratings on Crocs, Facebook, and Universal Display

by 6/22/2012 9:00 AM
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Analysts are weighing in today on shoe stock Crocs, Inc. (CROX - 15.67), social networking giant Facebook, Inc. (FB - 31.84), and organic LED specialist Universal Display Corporation (PANL - 31.11). Here's a quick roundup of today's bullish brokerage notes.

  • Benchmark Capital started coverage of CROX with a "buy" rating and $23 price target, representing yet another bullish nod for the shares. Already, six out of nine analysts have handed out "strong buy" ratings on CROX, with not a single "sell" to be found. Benchmark's new target implies expected upside of nearly 47% to Thursday's close at $15.67. To put these high hopes in perspective, CROX has declined 37.8% over the past 52 weeks, and is currently trading below its 10-month and 20-month moving averages -- which recently completed a bearish cross in the $20 neighborhood.

  • Wall Street newcomer FB scored a new "buy" rating from Nomura, sending the stock up 1.5% ahead of the bell. Most brokerage firms have already boarded Zuckerberg & Co.'s bullish bandwagon, with 78% of analysts holding onto a "buy" or better endorsement. The stock has drifted higher in recent weeks since bottoming around $26 in early June, and FB recently pulled its 10-day and 20-day trendlines into a bullish cross.

  • Deutsche Bank initiated coverage of PANL with a "buy" rating and $45 price target, representing a premium of 44.6% to yesterday's close at $31.11. The stock has stumbled to a loss of 15.2% so far in 2012, and PANL is currently pinned below the $32 level -- a former layer of support that has since switched roles to serve as resistance. Just beyond that is the equity's 40-day moving average, which hasn't been surmounted on a daily closing basis since PANL gapped below it on May 10.

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