Analyst Upgrades: Amazon, Visa, and Biogen Idec

Analysts upwardly revised their ratings on Amazon.com, Inc. (AMZN), Visa Inc (V), and Biogen Idec Inc (BIIB)

by Karee Venema

Published on Jan 30, 2015 at 10:00 AM
Updated on Jul 2, 2020 at 9:16 AM

Analysts are weighing in today on e-commerce concern Amazon.com, Inc. (NASDAQ:AMZN), credit card issue Visa Inc (NYSE:V), and biopharmaceutical firm Biogen Idec Inc (NASDAQ:BIIB). Here's a quick roundup of today's bullish brokerage notes on AMZN, V, and BIIB.

  • AMZN is up 10.9% at $345.69, after the company's fourth-quarter profit handily beat analysts' estimate. The news was met with a round of upbeat analyst attention, with a price-target boost to $400 from $380 at Jefferies, and a $75 price-target hike to $425 at Benchmark, included in the bunch. Heading into today's session, the shares had done little to inspire confidence in 2014, and were sitting just 0.5% above their year-to-date breakeven mark. If the shares are able extend today's rally, another round of upwardly revised price targets or an unwinding of put positions could be on the horizon. Amazon.com, Inc.'s average 12-month price target of $359.11 is within chip-shot of current trading levels.

  • V received no fewer than five price-target hikes, after the firm unveiled a stronger-than-expected fiscal first-quarter earnings report, and announced a four-for-one stock split that will go into effect on Thursday, March 19. Weighing in on the security were Goldman Sachs, which raised its price target by $10 to $280, and SunTrust Robinson, which upped its target price to $310 from $290. FBR, however, downgraded its outlook on V to "market perform" from "outperform," citing a challenging environment and concerns over valuation. The stock had already received love from the brokerage bunch in the lead-up to last night's results, yet options traders were skeptical. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, Visa Inc's 10-day put/call volume ratio of 1.01 ranks in the 75th annual percentile. These bearish bettors could be hitting the bricks, with V up 5.6% to trade at $261.82.

  • BIIB hit a fresh record peak of $397 out of the gate, and was last seen up 11% at $392.04. Sparking the burst of buying power is a a better-than-forecast fourth-quarter earnings report, upbeat full-year outlook, and a bevy of bullish brokerage notes. BMO, for instance, raised its price target to $495 from $474, while Cowen and Company raised its target price to $425 from $389. Both brokerage firms maintained their "outperform" ratings. Should the shares add to their 15% year-to-date advance, more price-target hikes -- or a continued shift in sentiment in the options pits -- could come down the pike. The stock's consensus 12-month price target of $383 stands at a discount to Biogen Idec Inc's present perch.

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