Analyst Upgrades: GoPro Inc, Micron Technology, Inc., and Salesforce.com, inc.

Analysts upwardly revised their ratings on GPRO, MU, and CRM

by Alex Eppstein

Published on Oct 28, 2014 at 8:52 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on mobile camera maker GoPro Inc (NASDAQ:GPRO), semiconductor issue Micron Technology, Inc. (NASDAQ:MU), and cloud computing expert Salesforce.com, inc. (NYSE:CRM). Here's a quick roundup of today's bullish brokerage notes on GPRO, MU, and CRM.

  • Wedbush started coverage on GPRO with an "outperform" rating and $81 price target. This bullish brokerage note is relatively rare for the stock, which has received just two "strong buy" endorsements, compared to seven "holds" and one "strong sell" recommendation. On the charts, while GoPro Inc shares have more than doubled in value since going public in late June, they've shed 34% since hitting a record high of $98.47 earlier this month, and now rest at $64.91. On the fundamental front, GPRO will release third-quarter earnings this Thursday evening.

  • Following the announcement of MU's $1 billion stock buyback initiative yesterday, the equity saw its price target raised to $42 from $41 at RBC, and to $36 from $34 at Morgan Stanley, which maintained their respective "outperform" and "equal weight" ratings. Technically speaking, Micron Technology, Inc. has been a beast, tacking on 48.5% year-to-date to trade at $32.30. Nevertheless, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been buying to open puts over calls at an accelerated rate lately. Specifically, MU's 50-day put/call volume ratio across those exchanges is 0.34, which ranks higher than 87% of comparable readings from the last year. While some of these positions may have been initiated by shareholders looking to hedge, an unwinding of the "vanilla" bears could result in tailwinds.

  • Finally, CRM was added to Morgan Stanley's "Best Ideas" list. What's more, the brokerage firm upped its price target on the security to $80 from $79, and underscored its "overweight" rating. Elsewhere, shares of Salesforce.com, inc. have added 10.5% year-over-year to trade at $59.11, and over the past three months, have outperformed the broader S&P 500 Index (SPX) by 9.2 percentage points. Nevertheless, short-term option speculators have rarely been more put-skewed than they are now, per the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.27, which sits just 2 percentage points from a 12-month peak.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
Puts Popular as GM Stock Rallies
GM puts are all the rage lately
JetBlue Stock Surging Despite Sector Skepticism
J.P. Morgan Securities downgraded JBLU to "neutral" from "overweight"
The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.