Schaeffer's Trading Floor Blog

Analyst Upgrades: eBay, Juniper Networks, and Goldman Sachs

Analysts upwardly revised their ratings on EBAY, JNPR, and GS

by 1/17/2013 9:12 AM
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Analysts are weighing in today on Internet auctioneer eBay Inc (NASDAQ:EBAY - 52.90), telecom issue Juniper Networks, Inc. (NYSE:JNPR - 20.98), and financial firm Goldman Sachs Group, Inc. (NYSE:GS - 141.09). Here's a quick roundup of today's bullish brokerage notes.

  • Up about 2.7% in pre-market action, EBAY was hammered with bullish attention this morning, after reporting better-than-expected fourth-quarter earnings post-close yesterday. Cantor Fitzgerald raised its price target to $56 from $48, while Evercore Partners, Stifel Nicolaus, Jefferies, Needham, Benchmark, Wedbush, and Raymond James also issued upward price-target adjustments. (Nomura, however, lowered its price target to $58 from $61.) The stock has soared more than 74% during the past year, yet short-term bears have been converging on EBAY. The security's Schaeffer's put/call open interest ratio (SOIR) of 0.96 ranks higher than 94% of similar annual readings, meaning near-term traders have rarely been more put-heavy toward the stock during the last 12 months.

  • JNPR -- which has climbed roughly 7% so far in 2013 -- was upgraded to "overweight" from "neutral" at J.P. Morgan Securities ahead of the opening bell. This confidence is prevalent in the options pits, as well. In fact, 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 4.85 for JNPR, confirming traders have bought to open nearly five calls for every put during the last two weeks. This ratio ranks in the 69th percentile of its annual range, meaning speculators have been scooping up calls over puts at a faster-than-usual pace.

  • GS also found itself in the bullish spotlight today, after revealing quarterly earnings results yesterday that bested consensus bottom-line estimates. Specifically, Macquarie lifted its price target to $150 from $123, while KBW, Nomura, and UBS boosted their own respective price targets. (Meanwhile, Sandler O'Neill cut the stock to "hold" from "buy.") GS has gained more than 35% on a year-over-year basis, yet there are still plenty of analysts who remain skeptical of the shares. The equity sports seven "strong buys" and one "buy" endorsement, compared to 13 "holds," and one "strong sell" suggestion. This leaves plenty of room for future upgrades, which could help push the shares higher.

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