Analyst Upgrades: Salesforce.com, inc., General Motors Company, and LinkedIn Corporation

Analysts upwardly revised their ratings on Salesforce.com, inc. (CRM), General Motors Company (GM), and LinkedIn Corp (LNKD)

by Alex Eppstein

Published on Feb 26, 2015 at 9:29 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on cloud computing concern Salesforce.com, inc. (NYSE:CRM), Detroit darling General Motors Company (NYSE:GM), and professional networking platform LinkedIn Corp (NYSE:LNKD). Here's a quick roundup of today's bullish brokerage notes on CRM, GM, and LNKD.

  • CRM is up more than 11% ahead of the bell, after the company's increase to its full-year sales forecast was applauded by a number of brokerage firms. Specifically, no fewer than 19 analysts upped their price targets, with Raymond James boosting its target all the way to $85 -- outstripping its peers. Today's expected gap higher could bring Salesfore.com, inc. -- which ended just below its year-over-year breakeven mark yesterday, at $62.87 -- into all-time-high territory, as the shares have never traded above $67. Ahead of last night's earnings reports, CRM had witnessed accelerated put buying among options traders. Specifically, the stock's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) checks in at 0.78 -- higher than two-thirds of all comparable readings from the last 52 weeks. A capitulation among these skeptics could now result in tailwinds.

  • GM, which announced it will no longer manufacture vehicles in Indonesia, saw its price target bumped to $44 from $35 at Evercore ISI -- which also reiterated a "hold" opinion. This bullish brokerage attention is par for the course, as two-thirds of covering analysts have given General Motors Company a "buy" or better rating, and the remainder handing out "holds." What's more, the equity's average 12-month price target of $41.81 stands at a 10.4% premium to last night's close at $37.86. Technically speaking, GM has had a solid start to 2015, adding 8.5% year-to-date -- putting it on the doorstep of its annual high of $38.18, touched two weeks ago.

  • Finally, LNKD is pointed higher in electronic trading, after Morgan Stanley initiated coverage on the stock with an "overweight" rating and $310 price target -- which would mark a record peak for the shares. On the charts, LinkedIn Corp has been a strong performer, surging more than 17% since the start of the year to trade at $269. Not surprisingly, option bulls have been active on the security. LNKD's 10-day ISE/CBOE/PHLX call/put volume ratio of 1.60 outstrips 82% of similar readings from the previous 12 months.

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