Analysts are weighing in on software stock Oracle Corporation (NYSE:ORCL), camera maker GoPro Inc (NASDAQ:GPRO), and gold miner Barrick Gold Corporation (USA) (NYSE:ABX). Here's a quick roundup of today's bullish brokerage notes on ORCL, GPRO, and ABX shares.
ORCL shares are having a big morning, last seen 8.5% higher at $46.73, earlier hitting a record high of $46.99, thanks to the company's better-than-expected fiscal third-quarter earnings, a beat driven by a burgeoning cloud business. Analysts are weighing in bullishly, with J.P. Morgan Securities upping its rating to "overweight" from "neutral," while BofA-Merrill Lynch set the highest price target, at $54. In the meantime, it looks like today's rally is leaving a number of skeptics in the dust. Specifically, short interest on Oracle Corporation surged 26% during the past two reporting periods.
GPRO stock is getting a rare boost on the charts today, adding 11.3% to trade at $8.18, after the company said its first-quarter revenue would be at the high end of its guidance, and that it's cutting 270 jobs in an effort to turn a 2017 profit. Analysts seem pleased, with Citigroup one of several firms weighing in positively, upgrading the stock to "neutral" from "sell," and raising its price target to $9 from $8. However, Morgan Stanley added, "While we are encouraged by further cost cutting, we are not convinced GoPro can achieve profitability this year yet." Despite today's rally, GoPro shares Inc have still lost more than half their value since their 52-week high of $17.68 from October, which is one reason only one brokerage firm on Wall Street recommends buying the stock.
An upgrade to "outperform" from "sector perform" from RBC -- as well as a post-Fed rebound for gold futures -- has ABX up 0.6% today at $19.13. The brokerage firm also set a price target of $23 on the shares, close to annual-high territory. The stock has performed well in 2017, up 19.7% year-to-date, but the vast majority of analysts are still bearish. By the numbers, just three of 13 brokerage firms recommend buying Barrick Gold Corporation. With ABX recently bouncing from its 50- and 200-day moving averages, additional bullish attention from analysts wouldn't be surprising.
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