Analyst Upgrades: FireEye, Inc., Symantec Corporation, and The Gap, Inc.

Analysts upwardly revised their ratings on FireEye Inc (FEYE), Symantec Corporation (SYMC), and Gap Inc (GPS)

by Alex Eppstein

Published on Jan 9, 2015 at 9:49 AM
Updated on Apr 20, 2015 at 5:10 PM

Analysts are weighing in today on cybersecurity firms FireEye Inc (NASDAQ:FEYE) and Symantec Corporation (NASDAQ:SYMC), as well as apparel retailer Gap Inc (NYSE:GPS). Here's a quick roundup of today's bullish brokerage notes on FEYE, SYMC, and GPS.

  • Goldman Sachs boosted its price target on FEYE to $41 from $39. This comes after some strong price action on the charts, as the stock has outperformed the broader S&P 500 Index (SPX) by nearly 14 percentage points over the last three months, and also tacked on a cool 7.2% yesterday. Additional bullish brokerage notes could be forthcoming, too, as eight out of 20 analysts covering FireEye Inc still rate the shares a "hold" or worse. In early trading, FEYE is up another 1.4% at $33.65.

  • Sector peer SYMC also saw its price target upped by Goldman Sachs -- to $26 from $25. Technically speaking, the stock has surged since touching its most recent low of $21.66 in mid-October, and as recently as Dec. 26, Symantec Corporation hit an annual high of $26.69. However, negativity is still high among analysts, with 18 out of 20 handing out "hold" or worse assessments. Plus, SYMC's consensus 12-month price target of $25.28 is below the current price of $25.72. If the shares can sustain their momentum, another round of positive analyst attention could add fuel to their fire.

  • Last night, GPS reported that same-store sales rose 3% in November and December, on a year-over-year basis, led by a strong performance by its Old Navy brand. This news was met with applause on Wall Street, as a trio of firms raised their price targets on the stock -- the most ambitious of which came from Baird, which lifted its target by $1 to $45, while maintaining its "neutral" opinion. Nevertheless, Gap Inc is 2.1% lower out of the gate at $42.21. Longer term, the shares have outperformed the broader SPX by 10 percentage points over the last two months. Accordingly, options traders have been betting bullishly on GPS. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 4.90 is higher than 86% of comparable readings from the previous 52 weeks.

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