Analyst Upgrades: FedEx Corporation, CSX Corporation, and ACADIA Pharmaceuticals Inc.

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

by Alex Eppstein

Published on Feb 27, 2015 at 9:41 AM
Updated on Apr 20, 2015 at 5:32 PM

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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