Schaeffer's Trading Floor Blog

Analyst Upgrades: Visa, Cirrus Logic, and Riverbed Technology

Analysts upwardly revised their ratings on V, CRUS, and RVBD

by 11/1/2012 9:18 AM
Stocks quoted in this article:

Analysts are weighing in today on credit card behemoth Visa Inc (NYSE:V - 138.76), semiconductor stock Cirrus Logic, Inc. (NASDAQ:CRUS - 40.78), and telecom issue Riverbed Technology, Inc. (NASDAQ:RVBD - 18.47). Here's a quick roundup of today's bullish brokerage notes.

  • V was hammered with bullish attention today, after topping analysts' quarterly earnings projections. Raymond James lifted its price target to $160 from $140, while Stifel Nicolaus, UBS, Wedbush, Susquehanna, Nomura, KBW, Credit Suisse, and Barclays also issued upward price-target adjustments. The stock has climbed nearly 52% during the past year, but near-term puts still outpace calls, as reflected by V's Schaeffer's put/call open interest ratio (SOIR) of 1.11. This ratio arrives in the 63rd annual percentile, meaning short-term traders are more put-heavy than usual toward the equity.

  • CRUS also reaped the benefits of a stronger-than-expected quarterly earnings report, with Needham upgrading the stock to "strong buy" from "buy." Meanwhile, Canaccord Genuity and Stifel Nicolaus raised their respective price targets. The equity has gained a whopping 157% year-to-date, so it's no surprise that calls bought to open have outstripped puts lately. In fact, the security's 20-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio sits at 3.54, confirming traders have bought to open more than three calls for every put during the past month.

  • Up nearly 3% in pre-market action, RVBD was lifted to "buy" from "hold" at Cantor Fitzgerald this morning, after announcing plans to acquire Opnet Technologies (NASDAQ:OPNT). The equity is down about 34% on a year-over-year basis, which may be attracting skeptics. Short interest on RVBD rose by nearly 9% during the last two reporting periods, and now accounts for more than 6% of the security's available float.

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