Analyst Upgrades: Citigroup Inc., Palo Alto Networks, Inc., and GrubHub, Inc.

Analysts upwardly revised their ratings on Citigroup Inc (C), Palo Alto Networks Inc (PANW), and GrubHub Inc (GRUB)

by Andrea Kramer

Published on Mar 3, 2015 at 9:27 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on financial firm Citigroup Inc (NYSE:C), cybersecurity issue Palo Alto Networks Inc (NYSE:PANW), and online restaurant concern GrubHub Inc (NYSE:GRUB). Here's a quick roundup of today's bullish brokerage notes on C, PANW, and GRUB.

  • C is making headlines this morning, after the firm said it agreed to sell its OneMain Financial Holdings consumer finance unit to Springleaf Holdings Inc (NYSE:LEAF) for a cool $4.25 billion in cash. Meanwhile, J.P. Morgan Securities upgraded Citigroup Inc to "overweight" from "neutral," and lifted its price target by $4 to $58, citing the company's deal with Visa Inc (NYSE:V) and Costco Wholesale Corporation (NASDAQ:COST). On the charts, C is staring up at former support in the $54 region -- also home to its year-to-date breakeven level -- which could reverse roles to serve as resistance. In fact, C sports a 14-day Relative Strength Index (RSI) of 68 -- on the cusp of overbought territory, suggesting a short-term pullback could be in the cards. The stock closed Monday at $53.49.

  • PANW unveiled stronger-than-expected fiscal second-quarter earnings (subscription required) and offered upbeat guidance, triggering a bounty of bullish brokerage notes. Nearly a dozen analysts have upped their price targets on PANW, including Raymond James, which lifted its target to $173 from $160. Palo Alto Networks Inc has been a broad-market standout of late, more than doubling over the past year to sit at $145.98. In fact, the security touched a record high of $146.40 just yesterday. As such, option players have been upping the bullish ante. The stock's 10-day call/put volume ratio on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits at 2.14 -- just 6 percentage points from an annual peak.

  • Finally, GRUB jumped 5% yesterday to land at $44.09 -- a six-month high -- thanks to well-received guidance. Brean Capital weighed in on GrubHub Inc this morning, lifting its price target by $5 to $50 and underscoring a "buy" recommendation. Most analysts are already aboard the stock's bullish bandwagon, as GRUB boasts 13 "strong buys," compared to two lukewarm "holds" and not a single "sell." Likewise, the consensus 12-month price target of $48.63 stands in uncharted territory for the shares, which have added 21.4% in 2015.

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