Stocks quoted in this article:
Analysts are weighing in today on drilling company Hercules Offshore, Inc. (NASDAQ:HERO - 3.54), Internet radio issue Pandora Media, Inc. (NYSE:P - 10.87), and energy stock Valero Energy Corporation (NYSE:VLO - 24.15). Here's a quick roundup of today's bullish brokerage notes.
- Macquarie raised its rating on HERO to "outperform" from "neutral," sending the stock up roughly 2% ahead of the bell. The commodity stock has shed 20.3% of its value so far in 2012, and HERO is once again preparing to face off with resistance in the $3.60 area. This region briefly served as support back in late May, but has since switched roles to thwart all of the equity's recent rally attempts.
- P scored an upgrade to "outperform" from "market perform" at Raymond James, which has prompted a pre-market surge of nearly 4% for the shares. The Wall Street rookie has managed to cobble together a year-to-date gain of 8.6%, but P is now staring up at resistance in the $12 level. With 23.2% of the stock's float sold short, a rush to cover by some of the weaker bearish hands could help P tackle this looming technical hurdle.
- Deutsche Bank upped its price target on VLO to $28 from $22, with the new target implying expected upside of 15.9% from Friday's close at $24.15. Most analysts have slightly higher hopes for VLO, as the equity sports an average 12-month price target of $30. The shares have advanced 14.7% since the start of the year, but they're now trading just south of their 52-week breakeven in the $25.60 neighborhood. Going forward, this area could act as a speed bump for the stock.