Analyst Upgrades: Activision, Salesforce.com, DIRECTV

Analysts upwardly revised their ratings on ATVI, CRM, and DTV

by Alex Eppstein

Published on Nov 10, 2014 at 8:56 AM
Updated on Jul 2, 2020 at 9:36 AM

Analysts are weighing in today on video game producer Activision Blizzard, Inc. (NASDAQ:ATVI), cloud computing name Salesforce.com, inc. (NYSE:CRM), and satellite concern DIRECTV (NASDAQ:DTV). Here's a quick roundup of today's bullish brokerage notes on ATVI, CRM, and DTV.

  • ATVI was greeted this morning by a price-target hike to $26 from $25 at Brean Capital, which likewise underscored its "buy" rating. This is somewhat surprising, given that the same firm lowered its price target on the shares just two weeks ago. Technically speaking, ATVI has tacked on a cool 15.8% year-to-date to trade at $20.65, and recently took a bounce off of its 80-week moving average. From a sentiment perspective, the brokerage bunch is already in the bulls' corner when it comes to Activision Blizzard, Inc. All 18 analysts covering the stock have doled out a "buy" or better opinion, and the equity's consensus 12-month price target of $26.09 sits at a 26.3% premium to current trading levels.

  • CRM has gained nearly 16% in 2014, and is currently perched at $63.97. Oppenheimer responded to this positive momentum by upping its price target by $4 to $75, while reiterating its "outperform" assessment. Also bullish toward Salesforce.com, inc. have been options traders, who have bought to open nearly three calls for every put during the past two weeks on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). The resultant 10-day call/put volume ratio of 2.95 across those exchanges ranks in the 91st percentile of its annual range. However, with 6.4% of CRM's float sold short -- which would take 7.6 sessions to buy back, at the stock's typical daily trading volume -- a portion of these bullish bets may have been initiated by short sellers seeking an upside hedge.

  • Finally, DTV saw its price target lifted to $95 from $90 at RBC, which also affirmed its "sector perform" rating. On the charts, the stock has been in a long-term uptrend, rallying nearly 37% year-over-year to trade at $87.40. Nevertheless, the majority of the brokerage crowd is skeptical toward DIRECTV. Thirteen out of 16 analysts following the shares have given them either a "hold" or "strong sell" recommendation. Plus, DTV's average 12-month price target of $92.95 represents a modest 6.4% premium to the security's current perch. Should additional bullish brokerage notes come down the pike, the shares could benefit from tailwinds.

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