Analyst Update: BBBY, CMCSA, and SWKS

Analysts adjusted their ratings on Bed Bath & Beyond Inc. (BBBY), Comcast Corporation (CMCSA), and Skyworks Solutions Inc (SWKS)

by Alex Eppstein

Published on Jan 2, 2015 at 9:12 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on home goods retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY), cable provider Comcast Corporation (NASDAQ:CMCSA), and semiconductor firm Skyworks Solutions Inc (NASDAQ:SWKS). Here's a quick look at today's brokerage notes on BBBY, CMCSA, and SWKS.

  • Cancaccord Genuity upgraded BBBY to "buy" from "hold" -- and raised its price target to $91 from $66 -- citing strong sales momentum for the retailer. On the charts, the shares are down nearly 5% year-over-year, but have been in a steady uptrend since hitting an annual low of $54.96 in late June to now perch at $76.17. This puts Bed Bath & Beyond Inc. within striking distance of its all-time peak, located at $80.82. If the stock continues to run higher, or if the company reports solid earnings next Thursday, Jan. 8, another round of bullish brokerage notes could materialize. Over two-thirds of covering analysts rate BBBY a "hold" or worse, and the equity's consensus 12-month price target of $67.90 resides below current trading levels.

  • CMCSA saw its price target boosted to $56 from $52 at Macquarie, which also reiterated its "neutral" opinion. Nevertheless, the new price target sits below the stock's current perch at $58.01, as well as the security's record peak of $59.30, tagged on Wednesday. Over the last year, shares of Comcast Corporation have gained nearly 13%, ushered higher by their 40-week moving average. This technical performance has caught the eye of option bulls. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CMCSA has racked up a call/put volume ratio of 6.04 -- with roughly six calls bought to open for every put. What's more, this ratio ranks in the 82nd percentile of its annual range.

  • D.A. Davidson raised its price target on SWKS to $85 from $75, and reaffirmed its "buy" recommendation. This isn't surprising, considering the shares have advanced more than 165% over the last 12 months, and have outperformed the broader S&P 500 Index (SPX) by 30.4 percentage points during the previous 60 sessions. In fact, SWKS notched a decade-plus peak of $74.97 on Dec. 23. Taking a step back, the brokerage crowd is largely behind Skyworks Solutions Inc, with 11 analysts handing out "strong buy" ratings, compared to three "holds" and not a single "sell" -- optimism that's reflected in the security's options pits. However, the equity's consensus 12-month price target of $77.42 represents a slim premium to the current price of $72.71. If SWKS can sustain its upward momentum, additional price-target hikes could be forthcoming.

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