Analyst Upgrades: FedEx, CSX, ACADIA Pharmaceuticals

Analysts upwardly revised their ratings on FedEx Corporation (FDX), CSX Corporation (CSX), and ACADIA Pharmaceuticals Inc. (ACAD)

Feb 27, 2015 at 9:41 AM
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Analysts are weighing in today on package delivery expert FedEx Corporation (NYSE:FDX), transportation supplier CSX Corporation (NYSE:CSX), and drugmaker ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD). Here's a quick roundup of today's bullish brokerage notes on FDX, CSX, ACAD.

  • Credit Suisse upgraded FDX to "outperform" from "neutral" -- and raised its price target to $203 from $177 -- citing improving returns and demand. As such, the shares are up 1.1% this morning to trade at $176.53, bringing their year-over-year advance to 32.4%. For comparison's sake, rival United Parcel Service, Inc. (NYSE:UPS) has gained less than 7% on an annual basis, after recently getting hit by a weak fourth-quarter outlook. Looking more closely at the charts, FedEx Corporation is resting atop its rising 80-day moving average (located at $174.50) -- a trendline that's served as support for nearly a year, and could continue to do so going forward. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity has seen near-extreme levels of put buying in recent weeks. FDX's 10-day put/call volume ratio of 2.04 is just 1 percentage point shy of a 12-month peak. However, some of these positions may have been initiated by shareholders hedging against unexpected downside.

  • CSX saw its rating bumped to "outperform" from "market perform" at BMO, which also upped its price target by $2 to $40. The bullish note is well deserved, considering the stock has tacked on 23.6% over the last year -- though it was last seen slightly lower at $34.26. Not surprisingly, option bulls have taken a shine to CSX Corporation. The equity's 10-day ISE/CBOE/PHLX call/put volume ratio is 10.56 -- meaning nearly 11 calls have been bought to open for every put. What's more, this ratio outstrips 92% of similar readings from the past 12 months.

  • Despite reporting a wider-than-expected fourth-quarter loss yesterday, ACAD has received additional bullish brokerage attention. Specifically, JMP Securities, Cowen and Company, and Ladenburg Thalmann raised their respective price targets to $50, $49, and $43. As such, ACADIA Pharmaceuticals Inc. is 0.9% higher at $38.10, which is good news for this group of option bulls. Longer term, ACAD has gained 34.6% year-over-year. Analysts have recognized this technical prowess, doling out eight "strong buy" ratings, compared to one "hold" and not a single "sell."
 

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