Analyst Upgrades: Salesforce.com, GM, LinkedIn

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

Feb 26, 2015 at 9:29 AM
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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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