Analyst Upgrades: eBay, BioMarin Pharma, Ulta Salon

Analysts upwardly revised their ratings on eBay Inc (EBAY), BioMarin Pharmaceutical Inc. (BMRN), and Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA)

Alex Eppstein
Mar 13, 2015 at 9:08 AM
facebook twitter linkedin


Analysts are weighing in today on online auction house eBay Inc (NASDAQ:EBAY), drugmaker BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), and beauty retailer Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA). Here's a quick roundup of today's bullish brokerage notes on EBAY, BMRN, and ULTA.

  • EBAY received an upgrade to "positive" from "neutral," and a price-target hike to $75 from $59, at Susquehanna. On the charts, the stock -- 1% higher ahead of the bell -- has had a solid start to the year, helped by an early February bounce from its 200-day moving average. Specifically, the equity has added nearly 6% in 2015 to perch at $59.41, and notched a record high of $60.93 on Monday. If eBay Inc continues to trek higher, it could be met with additional bullish brokerage notes. Currently, over half of the analysts tracking the shares have doled out a "hold" or worse rating, and EBAY's consensus 12-month price target of $59 rests below current trading levels.

  • BMRN is pointed 2% higher in electronic trading, after receiving a price-target bump to $135 to $125 at Jefferies -- which also reiterated its "buy" opinion. Technically speaking, the shares have surged nearly 49% year-over-year, and at $115.59, they could topple their early March all-time peak of $116.70 this morning. Taking a step back, analysts are already firmly planted in BioMarin Pharmaceutical Inc.'s corner. Thirteen of 16 covering analysts rate the stock a "buy" or better, versus just three "holds" and not a single "sell." However, additional price-target hikes could be forthcoming, considering BMRN's average 12-month price target of $119.21 is just a chip-shot away from current levels.

  • Finally, ULTA is poised to jump 7% out of the gate, following a strong showing in the earnings confessional. Analysts responded positively to the company's better-than-expected results, with Sterne Agee, Oppenheimer, Baird, and Cowen each lifting their respective price targets and underscoring the equivalent of "buy" ratings. In recent months at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have been buying to open puts over calls at a faster-than-usual rate. Specifically, Ulta Salon, Cosmetics & Fragrance, Inc.'s 50-day put/call volume ratio of 1.42 ranks in the 94th percentile of its annual range. On the charts, though, the shares show no signs of slowing down -- up nearly 62% year-over-year at $144.82, and fresh off Thursday's record high of $145.90.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 

Partnercenter