Analyst Update: Applied Materials, Intel, Panera Bread

Analysts adjusted their ratings and price targets on Applied Materials, Inc. (NASDAQ:AMAT), Intel Corporation (NASDAQ:INTC), and Panera Bread Co (NASDAQ:PNRA)

Josh Selway

Apr 1, 2016 at 3:12 PM

Analysts are weighing in on semiconductor specialists Applied Materials, Inc. (NASDAQ:AMAT) and Intel Corporation (NASDAQ:INTC), as well as restaurant stock Panera Bread Co (NASDAQ:PNRA). Here's a quick roundup of today's brokerage notes on AMAT, INTC, and PNRA.

AMAT is up 0.7% at $21.33, thanks to an upgrade to "outperform" from "underperform" at Exane BNP Paribas. This bullish outlook echoes the general view on the Street, where 10 of the 14 covering brokerages recommend buying the stock, and none deem it a "sell." The shares now stand over 14% higher in 2016, and appear to have found a new home atop the $21 level, home to the intraday high Applied Materials, Inc.'s hit during its bear gap last April.

A price-target hike to $33 from $31 has INTC edging higher to $32.36. The stock is clinging to a 5% 12-month lead, but there's plenty of pessimism to go around. For instance, short interest jumped over 14% during the most recent reporting period. At average daily volumes, it would now take Intel Corporation shorts more than four days to cover these bearish bets.

PNRA is higher today, up 3.7% at $212.34, after Goldman Sachs upped its price target to $196 from $183. The stock has had a masterful run up the charts, gaining 28% since this time last year. However, options traders have taken a bearish approach to Panera Bread Co in recent months. The stock's 50-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 1.82 -- in the 95th annual percentile.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Netflix, Inc., International Business Machines Corp., and Genocea Biosciences Inc and Analyst Downgrades: Micron Technology, Inc., Delta Air Lines, Inc., and United Continental Holdings Inc.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!