Analyst Upgrades: Oracle, Anthem, and Pandora Media

Analysts upwardly revised their ratings on Oracle Corporation (ORCL), Anthem Inc (ANTM), and Pandora Media Inc (P)

Griffin Kruse
Mar 18, 2015 at 9:24 AM
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Analysts are weighing in today on software issue Oracle Corporation (NYSE:ORCL), health insurance provider Anthem Inc (NYSE:ANTM), and Internet radio concern Pandora Media Inc (NYSE:P). Here's a quick roundup of today's bullish brokerage notes on ORCL, ANTM, and P.

  • ORCL is about 2.8% higher in electronic trading, after the company posted fiscal third-quarter revenue that missed analysts' expectations, but provided an optimistic outlook on cloud services and hiked its dividend for the first time since 2013. In response, no fewer than eight brokerage firms revised their price targets on Oracle Corporation, including Credit Suisse, which raised its price target to $50 from $47.50 while reiterating its "outperform" opinion. On the charts, ORCL was slipping prior to today, down 8.2% from its Dec. 24 all-time high of $46.71 to close yesterday at $42.87. Accordingly, puts have been popular in the options pits, as ORCL's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.95 sits in the 71st percentile of all similar readings taken over the past year.

  • Leerink hiked its price target on ANTM by $15 to $175 -- in uncharted territory -- while keeping its "outperform" rating. The revision comes as no surprise, considering that ANTM -- which hit a record high of $154.84 on Monday -- has tacked on nearly 22% year-to-date to reach $153.30. What's more, the equity could extend its journey to all-time peaks today, with the shares pointed 4% higher ahead of the bell. However, sentiment in the options pits has been put-heavy, as Anthem Inc's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.26 sits in the 73rd percentile of its annual range. The brokerage bunch is divided on the equity as well, as over half of covering analysts rate the stock a "hold," and ANTM's consensus 12-month price target is sitting below current trading levels. A capitulation of traders and/or the analyst community could spell tailwinds for the shares.

  • P is also pointed higher this morning, headed for a 2.9% gain, after CRT raised its price target to $22 from $16 while upgrading the stock to "buy" from "fair value." The revision is somewhat surprising, given that Pandora Media Inc is down about 11.8% year-to-date to hit $15.73, and touched an annual low of $14.50 just last week. However, calls have been prominent amid takeover chatter, as P's 50-day ISE/CBOE/PHLX call/put volume ratio of 4.68 is the highest such reading taken over the past year. Meanwhile, over 15% of the equity's available float is sold short, which would take five sessions to cover, at average trading volumes.

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