Analyst Upgrades: BlackBerry, TASER, and Groupon

Analysts upwardly revised their ratings on BBRY, TASR, and GRPN

Dec 22, 2014 at 9:22 AM
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Analysts are weighing in today on mobile phone maker BlackBerry Ltd (NASDAQ:BBRY), stun-gun producer TASER International, Inc. (NASDAQ:TASR), and mass coupon concern Groupon Inc (NASDAQ:GRPN). Here's a quick roundup of today's bullish brokerage notes on BBRY, TASR, and GRPN.

  • BBRY is modestly higher ahead of the bell, as early traders adopt a glass-half-full approach to the latest round of analyst notes. On one hand, TD Securities upgraded BlackBerry Ltd to "buy" from "hold," and Raymond James hiked its price target to $11 from $10.50 (and maintained a "market perform" opinion). On the other hand, J.P. Morgan Securities and RBC trimmed their respective price targets to $10 and $11. On Friday, BBRY slipped just 0.8% to land at $9.99, as traders panned the company's latest earnings report. However, the stock found a foothold atop its 50-week moving average, which has supported pullbacks since mid-June.

  • TASR is set to jump 4.5%, after Oppenheimer initiated coverage with an "outperform" endorsement and $28 price target -- in territory not charted since early 2005. TASER International, Inc. has advanced more than 51% in 2014, settling at $23.98 on Friday, as a year of civil unrest has sparked demand for the company's products. Nevertheless, just two out of five analysts consider TASR worthy of a "buy" or better rating, and the consensus 12-month price target of $19.25 sits at a discount to the security's current perch. More bullish brokerage attention could help TASR extend its journey higher.

  • Finally, GRPN is set to open 1% higher, after Brean Capital upped its price target by $1 to $11, and reiterated a "buy" rating. Groupon Inc has outperformed the broader S&P 500 Index (SPX) by more than 24 percentage points during the past two months, ending at $7.92 on Friday -- its second-highest close since early April. However, short-term option traders remain unconvinced, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.88 sits just 9 percentage points from an annual bearish peak. In the same vein, short interest accounts for 22.1% of GRPN's total available float, and would take nearly seven sessions to buy back, at the stock's average daily trading volume -- plenty of fuel for a potential short-covering boost.

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