Analyst Upgrades: Madison Square Garden, Analog Devices

Analysts upwardly revised their ratings on The Madison Square Garden Co (MSG), Analog Devices, Inc. (ADI), and BioMarin Pharmaceutical Inc. (BMRN)

Mar 30, 2015 at 9:27 AM
facebook twitter linkedin


Analysts are weighing in today on entertainment issue The Madison Square Garden Co (NASDAQ:MSG), semiconductor firm Analog Devices, Inc. (NASDAQ:ADI), and biotech BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Here's a quick roundup of today's bullish brokerage notes on MSG, ADI, and BMRN.

  • MSG announced on Friday evening plans to split into two publicly traded companies. The news has been met with applause on the Street, where Stifel upped its price target on the stock to $90, Morgan Stanley raised its target to $94 and its rating to "overweight," and Topeka Capital boosted its opinion to a "buy." Also, the shares are sitting about 6% higher ahead of the bell, putting them on track for an all-time peak out of the gate. Longer term, The Madison Square Garden Co has been a technical beast, adding more than 42% year-over-year to trade at $80.73 -- just a chip-shot from its record high of $81.62, touched last Wednesday. That said, additional bullish notes could be on the way, considering 80% of covering analysts rate MSG a "hold," and its consensus 12-month price target of $82.81 is just a stone's throw away.

  • Barclays boosted its assessment of ADI to "overweight" from "equal weight," and its price target to $70 from $55, citing a contract the company has in place with Apple Inc. (NASDAQ:AAPL) as one reason for optimism. As such, the shares are pointed 5% higher in electronic trading, which could help them overcome recent sector-wide headwinds, and add to their 6% year-to-date advance as of Friday's close at $58.84. What's more, as recently as March 20, Analog Devices, Inc. hit a 14-year high of $61.32. In the options pits, though, puts have been much more popular than calls. Specifically, the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 3.83 indicates nearly four puts have been bought to open for every call during the past two weeks. This ratio ranks in the 91st percentile of its annual range.

  • Finally, BMRN saw its price target upped to $151 from $125 at SunTrust Robinson, which also reiterated a "buy" assessment. This development has the shares perched 2% higher ahead of the bell. From a longer-term perspective, BioMarin Pharmaceutical Inc. has nearly doubled in value on a year-over-year basis, and is within striking distance of its all-time peak of $133.54, reached on Friday. Not surprisingly, the brokerage crowd is largely in BMRN's bullish corner. Thirteen of 16 covering analysts have handed out "buy" or better ratings, compared to three "holds" and not a single "sell." However, the equity's consensus 12-month price target of $123.63 -- a discount to Friday's close at $128.78 -- suggests more room is available for additional price-target hikes.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

SCHAEFFER'S JULY STOCKS REPORT AD
 


 


 
Special Offers from Schaeffer's Trading Partners