Analyst Upgrades: Bank of America, Intel, lululemon

Analysts upwardly revised their ratings on Bank of America Corp (BAC), Intel Corporation (INTC), and Lululemon Athletica inc. (LULU)

Jan 5, 2015 at 9:47 AM
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Analysts are weighing in today on financial giant Bank of America Corp (NYSE:BAC), microchip maker Intel Corporation (NASDAQ:INTC), and yoga apparel peddler Lululemon Athletica inc. (NASDAQ:LULU). Here's a quick roundup of today's bullish brokerage notes on BAC, INTC, and LULU.

  • BAC saw its price target raised to $18 from $17 at Baird, and to $20 from $18 at Barclays, with both firms reiterating the equivalent of "hold" ratings. These bullish notes are well-deserved, considering the stock has surged 23% since touching an annual low of $14.37 in mid-May to rest at $17.67 -- ushered higher in recent weeks by its 10-week moving average. Additional upward revisions could be on the way, too, considering Bank of America Corp's consensus 12-month price target of $18.30 stands just 2.2% from present trading levels. Along similar lines, the shares could benefit from potential upgrades -- especially if the company reports stronger-than-expected earnings next Thursday, Jan. 15 -- as 45% of covering analysts have doled out "hold" or worse recommendations.

  • INTC received a pair of positive brokerage notes earlier, as RBC upped its price target by $2 to $40 (and underscored its "sector perform" opinion), while MKM Partners upgraded the equity to "buy" from "neutral." On the charts, Intel Corporation has been a beast, tacking on 43% over the past 52 weeks to rest at $36.40, and currently consolidating atop its supportive 40-day moving average --potentially setting up the shares for their next run higher. Still, nearly half of the brokerage firms following the stock rate it a "hold" or "strong sell," and its consensus 12-month price target of $35.65 sits below the current price. In other words, there's plenty of room for another round of bullish brokerage notes. On the fundamental front, the Semiconductor Industry Association (SIA) reported strong global semiconductor sales in November, on a year-over-year basis, which could also help INTC's bottom line. On the calendar, INTC is slated to make a cameo at the Consumer Electronics Show tomorrow, and will report earnings next Thursday, Jan. 15.

  • Finally, LULU was upgraded to "outperform" from "market perform" at William Blair, while its price target was boosted to $60 from $55 at KeyBanc (which also reiterated its "buy" rating). Technically speaking, the shares have been on a tear since bottoming at a three-year low of $36.26 in mid-June -- rallying 56.6% to rest at $56.77. All things considered, Lululemon Athletica inc. could benefit from additional upgrades and price-target hikes. Seventeen out of 26 covering analysts have handed out a "hold" or worse recommendation, and LULU's consensus 12-month price target of $52.60 is below present trading levels.
 

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