Analyst Upgrades: AstraZeneca PLC, Glu Mobile Inc., and Tableau Software, Inc.

Analysts upwardly revised their ratings on AstraZeneca plc (ADR) (AZN), Glu Mobile Inc. (GLUU), and Tableau Software Inc (DATA)

by Josh Selway

Published on Feb 5, 2015 at 9:45 AM
Updated on Apr 20, 2015 at 5:10 PM

Analysts are weighing in today on biopharmaceutical company AstraZeneca plc (ADR) (NYSE:AZN), mobile game developer Glu Mobile Inc. (NASDAQ:GLUU), and software concern Tableau Software Inc (NYSE:DATA). Here's a quick roundup of today's bullish brokerage notes on AZN, GLUU, and DATA.

  • AZN has dropped 1.9% out of the gate to trade at $69.74, after reporting weaker-than-expected earnings. The company also announced it would be buying Actavis plc's (NYSE:ACT) North American respiratory drug business. After all this, S&P Capital IQ raised its price target to 4,800P from 4,700P, and kept its "hold" rating. On a year-over-year basis, AstraZeneca plc (ADR) has added over 11%, but is off 15.6% since hitting an all-time high of $82.68 in early May. In the stock's options pits, short-term calls have been the focus. AZN's Schaeffer's put/call open interest ratio (SOIR) of 0.33 is lower than 96% of all similar readings from the past year, revealing near-term speculators have been more call-skewed than usual.

  • GLUU skyrocketed 20.3% in electronic trading -- and was last seen 15.6% higher at $4.44 -- after yesterday posting a strong earnings report, and announcing a deal with pop singer Katy Perry. Following this, Benchmark increased its target price to $5.45 from $5.38, while Canaccord Genuity bumped its target price by $0.50 to $6.50, while reaffirming its "buy" rating. Most analysts are already in the bulls' corner, with seven of the eight brokerage firms deeming GLUU a "strong buy," compared to one "hold" and not a single "sell." Moreover, Glu Mobile Inc.'s consensus 12-month price target of $6.49 represents a 46.2% premium to current levels. On the charts, GLUU has dropped 41.58% since hitting a multi-year high of $7.60 in late July.

  • DATA surged higher ahead of the bell, adding 17.5% after its fiscal first-quarter earnings beat paved the way for a wave of price-target hikes. For instance, BMO increased its price target to $111 from $98, while RBC boosted its price target for the shares by $10 to $110. Both brokerage firms maintained their "outperform ratings," mirroring the sentiment already seen on the Street. Of the 18 analysts covering Tableau Software Inc, 15 consider it a "buy" or better, with the remaining three designating it a "hold." This morning's price surge could have short sellers worried, as roughly 7% of the stock's float is sold short, representing over four days' worth of buying power, at the stock's average daily pace. The stock was last seen 16% higher at $97.69.

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