Analyst Upgrades: AstraZeneca, Glu Mobile, and Tableau

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

Feb 5, 2015 at 9:45 AM
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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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