Schaeffer's Trading Floor Blog

Analyst Upgrades: Las Vegas Sands, QUALCOMM, and General Electric

Analysts upwardly revised their ratings on LVS, QCOM, and GE

by 9/28/2012 9:11 AM
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Analysts are weighing in today on gambling concern Las Vegas Sands Corp. (NYSE:LVS - 46.77), tech issue QUALCOMM, Inc. (NASDAQ:QCOM - 63.49), and diversified industrial firm General Electric Company (NYSE:GE - 22.73). Here's a quick roundup of today's bullish brokerage notes.

  • After scoring a price-target hike earlier this week, LVS received another upward price-target adjustment this morning -- this time to $50 from $45 at RBC. With a year-over-year advance of 13%, it's no surprise that near-term calls are preferred over puts. In fact, the equity's Schaeffer's put/call open interest ratio (SOIR) stands at 0.72, confirming that calls outstrip puts among options expiring in the next three months. This ratio arrives in the 18th annual percentile, meaning short-term traders have been more call-heavy toward the stock less than one-fifth of the time during the past year.

  • Brean Murray Carret initiated coverage of QCOM with a "buy" recommendation this morning, which could add to the stock's gain of roughly 27% over the past year. The equity has also outpaced the broader S&P 500 Index (SPX) by close to seven percentage points during the last three months. Today's bullish brokerage note is par for the course, as the stock currently boasts 28 "strong buys" and five "buy" endorsements, compared to just one "hold" and not a single "sell" suggestion to be found. What's more, Thomson Reuters shows an average 12-month price target of $70.49 for QCOM, reflecting expected upside of 11% from Thursday's closing price of $63.49.

  • GE saw its price target lifted to $25 from $24 at Barclays and to $25 from $22 at Nomura ahead of the open after the company raised its full-year revenue outlook yesterday. The security has climbed by more than 43% during the last 52 weeks, which may be attracting call players. The stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio sits at 2.74, confirming that calls bought to open have nearly tripled puts during the past few months. This ratio ranks in the 81st percentile of its annual range, signaling that traders have been snapping up calls over puts at a faster-than-usual pace.

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