![]()
Analysts upwardly revised their ratings on BIDU, BMY, and TIF
Analysts are weighing in today on Chinese Internet company Baidu Inc (ADR) (NASDAQ:BIDU), pharmaceutical firm Bristol-Myers Squibb Co (NYSE:BMY), and high-end jeweler Tiffany & Co. (NYSE:TIF). Here's a quick roundup of today's bullish brokerage notes on BIDU, BMY, and TIF.
- BIDU, which is slated to enter the earnings confessional after the close on Wednesday, Oct. 29, saw its rating raised to "outperform" from "perform" at Oppenheimer. The upgrade is well-deserved, as the shares have advanced nearly 16% year-to-date to trade at $205.73. The bullish brokerage note is by no means rare, either. Eleven of the 13 analysts following Baidu Inc (ADR) have given it a "strong buy" endorsement, compared to two "holds" and not a single "sell" recommendation.
- Despite a nearly 8% year-to-date deficit to rest at $48.96, BMY was upgraded to "outperform" at BMO. Traders in the stock's options pits are similarly optimistic. During the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Bristol-Myers Squib Co has racked up a call/put volume ratio of 4.50, with more than four calls bought to open for every put. What's more, this number ranks in the 77th percentile of its annual range, suggesting speculators have picked up BMY calls over puts at an accelerated clip, relatively speaking. Looking ahead, the company will report third-quarter earnings next Friday morning.
- Finally, Macquarie boosted its assessment on TIF to "outperform" from "neutral." This, despite the equity's year-to-date loss of 5.4% to close yesterday at $87.77, and recent sell-off after notching a record high in late August. Elsewhere on the Street, sentiment isn't nearly as rosy. Tiffany & Co.'s 10-day ISE/CBOE/PHLX put/call volume ratio of 3.09 ranks just 4 percentage points from a 12-month peak, suggesting the stock's puts are being bought to open at a faster-than-usual pace.