Barrick Gold, Cisco, NetEase Upgraded

Barrick Gold Corporation (USA) (ABX), Cisco Systems, Inc. (CSCO), and ​NetEase Inc (ADR) (NTES) are winning support from Wall Street analysts

by Alex Eppstein |

Published on Feb 16, 2017 at 9:18 AM

Analysts are weighing in on gold miner Barrick Gold Corporation (USA) (NYSE:ABX), blue chip Cisco Systems, Inc. (NASDAQ:CSCO), and tech stock NetEase Inc (ADR) (NASDAQ:NTES). Here's a roundup of today's bullish brokerage notes on ABX, CSCO, and NTES shares.

Analysts Applaud Barrick Gold Earnings

ABX saw its price target raised at both Credit Suisse and BMO, following last night's upbeat earnings report. As a result, the stock is pointed 2.1% higher pre-market. At $19.32, shares of Barrick Gold Corporation have already advanced nearly 21% in 2017. There's plenty of room for analysts to pile on the bullish bandwagon, too. Just four of 13 brokerage firms consider ABX worthy of a rating better than a "hold."

Cisco Shares Poised For Multi-Year High

CSCO is up 1.3% ahead of the open, following an earnings beat. The brokerage community is reacting positively, with no fewer than 11 analysts boosting their price targets on the Dow stock. Cowen set the highest bar, at $39 -- territory not explored since early 2001. Yesterday, Cisco Systems, Inc. closed at $32.82 after touching a nine-year high of $32.84 -- suggesting the shares will set yet another milestone out of the gate. Options traders should mostly capitalize on the expected upside move, too. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), speculators have bought to open 2.21 calls for every put during the past 10 weeks -- a ratio ranking just 12 percentage points from an annual peak.

NetEase Eyes Post-Earnings Highs

NTES is set to gap 7.8% higher at the open -- and into record-high territory -- following a strong earnings report. Morgan Stanley, Jefferies, and Goldman Sachs all raised their price targets on the encouraging news. Technically speaking, NetEase Inc has been a beast, up nearly 74% year-over-year at $261.85. Option bears could get burned on a stock surge, however. NTES has racked up a 10-day ISE/CBOE/PHLX put/call volume ratio of 1.56 -- just 6 percentage points from an annual high.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.
JOIN FREE

Get Schaeffer's Opening View every morning before the bell rings.


MORE | MARKETstories


Dow Falls With Apple; Healthcare Rebound Helps S&P Higher
Senator John McCain said he couldn't support the latest Republican healthcare bill
The Car Stock Stalling on a New 'Sell' Rating; Plus, HPE's Job Cuts
Hewlett Packard Enterprise reportedly plans to let 10% of its staff go
Tesla Stock's Rough Week Sparks Heavy Options Trading
Tesla stock is on pace for its worst weekly loss since early July

Partnercenter


TRADING SERVICES | FEATUREDproducts


By MG 2016
In March of 2016, I was introduced to Expiration Week Countdown.  The results are better than words!
Options trading made simple.
Schaeffer's Investment Research, Inc. is dedicated to providing subscribers advantages in options trading and investing.  Our independent market research services create profitable opportunities for investors at every level.