Schaeffer's Trading Floor Blog

Analyst Upgrades: Tibco Software, eBay, and Kroger

Analysts upwardly revised their ratings on TIBX, EBAY, and KR

by 10/18/2012 9:03 AM
Stocks quoted in this article:

Analysts are weighing in today on tech issue Tibco Software Inc. (NASDAQ:TIBX - 26.90), Internet auction site eBay Inc (NASDAQ:EBAY - 48.20), and grocery chain The Kroger Co. (NYSE:KR - 25.01). Here's a quick roundup of today's bullish brokerage notes.

  • TIBX -- which sits on a year-to-date gain of roughly 13% -- was upgraded to "outperform" from "neutral" at Macquarie ahead of the opening bell. Meanwhile, calls have been dominating the options pits, according to data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). In fact, the equity's 10-day call/put volume ratio sits at 16.92, confirming traders have bought to open nearly 17 calls for every put during the past two weeks. This ratio is just seven percentage points shy of an annual high, meaning speculators have rarely picked up calls over puts at a faster clip during the past year.

  • EBAY was flooded with bullish attention this morning, after reporting better-than-expected third-quarter earnings post-close yesterday. Specifically, Stifel Nicolaus raised its price target to $60 from $50, while Macquarie, Needham, J.P. Morgan, Barclays, and Canaccord Genuity also issued upward price-target adjustments. (Nomura, however, cut the stock's price target to $59 from $60.) With an advance of about 59% so far this year, it's not surprising that most of the analysts covering the security maintain an upbeat attitude toward EBAY. The equity currently sports 16 "strong buys" and five "buy" endorsements, compared to nine "holds" and zero "sell" suggestions.

  • KR saw its price target lifted to $25 from $23 at Cantor Fitzgerald today, which could add to the equity's year-over-year climb of more than 10%. The stock has also outperformed the broader S&P 500 Index (SPX) by about 10 percentage points during the past 40 sessions, but that hasn't stopped skeptics from converging on KR lately. Short interest on the security jumped by more than 22% during the last two reporting periods, and now accounts for roughly 4% of the equity's available float. It would take more than three days to unwind these bearish bets, at the stock's average daily trading volume.

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