Analyst Upgrades: JPMorgan Chase & Co., Nike Inc, and Intel Corporation

Analysts upwardly revised their ratings and price targets on blue-chip stocks JPMorgan Chase & Co. (JPM), Nike Inc (NKE), and Intel Corporation (INTC)

Jan 3, 2017 at 9:41 AM

Analysts are weighing in on blue-chip stocks JPMorgan Chase & Co. (NYSE:JPM), Nike Inc (NYSE:NKE), and Intel Corporation (NASDAQ:INTC). Here's a quick roundup of today's bullish brokerage notes on JPM, NKE, and INTC.

JPM is up 1.3% at $87.48, even after Indonesia cut the scope of services provided by JPMorgan Chase & Co, including axing its role as a primary bond dealer and perception bank, in retaliation of an "underweight" rating issued in mid-November. JPM was named Barclays' top large-cap U.S. bank for 2017, and hiked its price target to $100 from $79 -- uncharted territory for the shares. JPM is up more than 66% since touching an annual low last February, and notched a record high of $87.55 out of the gate. In the option pits, near-term option players are especially put-skewed, with JPM's Schaeffer's put/call open interest ratio (SOIR) of 1.09 sitting just 6 percentage points from an annual peak.
NKE is up 2.5% at $36.68, after the athletic apparel retailer was named the top 2017 pick by a Jefferies analyst, citing the company's earnings beat last month, as well as improving basketball trends. NKE is down more than 13% since its August highs, and was the lone laggard of the Dow in 2016, but the shares are set to topple their 80-day moving average for the first time since September today. In the option pits, traders have been betting on an extended rebound for the blue chip, with Nike Inc's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 1.66 sitting in the top 72% of all other readings from the past 12 months.
INTC is trading up 1.1% at $36.60, after the Dow stock was named the top pick for 2017 by Wells Fargo analyst David Wong, who also reiterated an "outperform" rating on the stock. INTC also received a price-target hike to $37 from $36 by Suntrust Robinson. Intel Corporation -- reportedly seeking an indirect stake in German mapping firm HERE -- shares have managed to tack on 9% since their early December lows, bouncing off their 200-day trendline. Among near-term option players, Intel Corporation sports a SOIR in the top quartile of its annual range, indicating a stronger-than-usual appetite for puts. As these pessimistic positions unwind, INTC could enjoy options-related tailwinds.

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