Analyst Upgrades: Cyberark, King Digital, Freescale

Analysts are weighing in today on cyber security focus Cyberark Software Ltd (NASDAQ:CYBR), Candy Crush creator King Digital Entertainment PLC (NYSE:KING), and digital processor producer Freescale Semiconductor Ltd (NYSE:FSL). Here's a quick roundup of today's bullish brokerage notes on CYBR, KING, and FSL.

• CYBR is 19% higher in electronic trading -- and set to open in all-time-high territory -- as shareholders respond to strong fourth-quarter numbers and a better-than-expected 2015 forecast. Accordingly, analysts are once again upwardly revising their price targets on the stock. Specifically, four brokerage firms increased their price targets on Cyberark Software Ltd, with Oppenheimer being the most ambitious, raising its target price to $55 from $45 -- a 20.4% premium to yesterday's close at $45.69. CYBR has been a technical outperformer, beating out the S&P 500 Index (SPX) by 22 percentage points in the past month. Regardless, the majority of analysts covering the shares remain unconvinced. In fact, two-thirds of brokerage firms consider the equity a "hold."


• KING has struggled on the charts in 2015, dropping 4% since the start of the year to close yesterday at $14.74. However, the shares appear ready to topple their year-to-date breakeven level -- and then some -- out of the gate, gaining 22.1% in pre-market trading following a fourth-quarter earnings beat. RBC, J.P. Morgan Securities, BMO, Deutsche Bank, and Wedbush all raised their price targets on the shares, with the latter setting the highest mark with a price target of $23. These positive developments likely have bearish traders feeling blue. Over one-fourth of King Digital Entertainment PLC's float is sold short, representing nine days' worth of pent-up buying power, at the security's normal daily trading pace.


• FSL shot up 10.9% in pre-market action, after the New York Post reported the company had hired bankers to explore a possible sale. Following this news, Bernstein raised its price target on the stock by $4 to $41. Most analysts were already in the bulls' corner in regards to Freescale Semiconductor Ltd, with six of the 10 covering brokerage firms handing out "buy" or better ratings. The bullish attention shouldn't come as a surprise, considering the stock's technical tenacity. In the past three months, FSL has outperformed the SPX by 71 percentage points, and notched an all-time closing high of $34.70 yesterday.