Analyst Upgrades: Macy's Inc, QUALCOMM, Inc., and Teva Pharmaceutical Industries Ltd

Analysts upwardly revised their ratings and price targets on Macy's Inc (M), QUALCOMM, Inc. (QCOM), and Teva Pharmaceutical Industries Ltd (TEVA)

Oct 31, 2016 at 9:41 AM

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Analysts are weighing in on department store Macy's Inc (NYSE:M), digital communications stock QUALCOMM, Inc. (NASDAQ:QCOM), and drugmaker Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA). Here's a quick roundup of today's bullish brokerage notes for M, QCOM, and TEVA.

M saw its rating upgraded to "buy" from "hold" at Deutsche Bank, which also increased its price target to $45 from $40. The upbeat note has the shares 2.4% higher at $36.43. Nevertheless, Macy's Inc has still surrendered 29% on a year-over-year basis. That hasn't stopped options traders from placing bullish bets on the stock. M sports a 50-day call/put volume ratio of 2.49 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), ranking near the top quartile of its annual range.

Nomura boosted its assessment of QCOM to "buy" from "neutral," and lifted its price target to $80 from $55 -- two-year-high territory for the shares. Out of the gate, the stock has popped 0.6% at $68.83, extending its year-to-date lead to nearly 38%. On the fundamental front, QUALCOMM, Inc. -- which just made a $38 billion purchase -- is scheduled to report earnings this Wednesday night, and expectations across Wall Street look pretty high. Most notably, the stock sports a 10-day ISE/CBOE/PHLX call/put volume ratio of 4.37, outstripping 88% of all comparable readings taken in the last 12 months.

TEVA is off 1% at $41.91, despite an upgrade to "outperform" from "neutral" at Credit Suisse -- though the brokerage firm did trim its price target to $52 from $59. On the charts, the shares have had it rough, and two weeks ago, touched a two-year low of $41.67. But, like Credit Suisse, most analysts have taken a glass-half-full approach toward Teva Pharmaceutical Industries Ltd. Eleven out of 17 rate the stock a "buy" or better, without a single "sell" opinion to be found.

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