Analyst Upgrades: BlackBerry, ARM Holdings, Groupon

Analysts issued bullish notes on BBRY, ARMH, and GRPN

Oct 22, 2014 at 9:25 AM
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Analysts are upwardly revising their ratings on smartphone maker BlackBerry Ltd (NASDAQ:BBRY), tech issue ARM Holdings plc (ADR) (NASDAQ:ARMH), and coupon concern Groupon Inc (NASDAQ:GRPN). Here's a quick look at today's bullish brokerage notes on BBRY, ARMH, and GRPN.

  • Macquarie raised its price target on BBRY to $7.60 from $7.25 -- and reiterated its "underperform" rating -- although this new price target still represents a discount to the stock's perch at $10.15. It's been quite a week for BlackBerry Ltd, which has rallied roughly 7%, and back into double-digit territory, amid unconfirmed M&A rumors. Should the stock continue this positive price action, another round of bullish brokerage notes could create a tailwind for BBRY. At present, all 22 analysts covering the shares maintain a "hold" or worse recommendation, and the consensus 12-month price target of $10.15 is in line with current trading levels.

  • ARMH received a handful of price-target cuts following yesterday's poorly received third-quarter earnings results, but UBS bucked the bearish trend by raising its outlook for the shares to "buy" from "neutral," and upping its price target to 980p from 970p, citing signs of resiliency in the company. Year-to-date, ARM Holdings plc (ADR) has surrendered nearly 28% to trade at $39.57, so it's no surprise to see sentiment among option traders stacked up on the skeptical side. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, the equity's 10-day put/call volume ratio of 5.45 ranks in the 89th annual percentile. Simply stated, puts have been bought to open over calls with more rapidity just 11% of the time within the past year.

  • Ahead of GRPN's third-quarter earnings report -- slated for release after the close next Thursday, Oct. 30 -- Brean Capital started coverage of the stock with a "buy" rating. On the charts, the security has performed poorly in 2014, resulting in a year-to-date deficit of 47.2% to trade at $6.22. Against this backdrop, speculators have shown a distinct preference for puts over calls among options set to expire in three months or less. In fact, Groupon Inc's Schaeffer's put/call open interest ratio (SOIR) of 0.90 ranks higher than all other readings taken in the past year, meaning short-term speculators are more put-heavy now than at any other time over the last 12 months.
 

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