Analyst Update: Nokia, Juniper Networks, Enphase Energy

Analysts adjusted their ratings on Nokia Corporation (ADR) (NOK), Juniper Networks, Inc. (JNPR), and Enphase Energy Inc (ENPH)

Apr 15, 2015 at 11:41 AM
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Analysts are weighing in today on cellphone maker Nokia Corporation (ADR) (NYSE:NOK), networking developer Juniper Networks, Inc. (NYSE:JNPR), and solar issue Enphase Energy Inc (NASDAQ:ENPH). Here's a quick look at today's brokerage notes on NOK, JNPR, and ENPH.

  • NOK woke up to a pair of upgrades this morning, after the firm confirmed that it is purchasing rival Alcatel-Lucent SA (ADR) (NYSE:ALU) for 15.6 billion euros ($16.6 billion) in an all-stock deal. Drilling down, Bernstein raised its opinion to "market perform" from "underperform" while lifting its price target to $9.20, and S&P Capital elevated its rating to "hold" from "sell" while increasing its price target to 7.80 euros. On the charts, the shares of Nokia Corporation have shed 2.5% today to hit $7.76, putting the stock 1.3% in the red year-to-date. In the options pits, traders have been favoring calls over puts lately, as NOK's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 15.68 ranks higher than 92% of all similar readings taken over the past year.

  • Credit Suisse raised its price target on JNPR to $23 from $21 while keeping its "neutral" opinion. In addition, Goldman Sachs opined that the NOK purchase of ALU could make JNPR -- as well as sector peer Ciena Corporation (NYSE:CIEN) -- even more attractive to Ericsson (ADR) (NASDAQ:ERIC). At last check, the shares of JNPR were up 0.9% at $24.20. Technically speaking, Juniper Networks, Inc. has rebounded 31.5% since notching an annual low of $18.41 on Oct. 15. However, puts have been prominent in the options pits ahead of JNPR's trip to the earnings confessional on April 23. Specifically, over the past 10 days at the ISE/CBOE/PHLX, 1.55 JNPR puts have been bought to open for every call, which is a higher ratio than 83% of all equivalent readings from the past 12 months.

  • Citing "pure-play exposure to rapid growth in residential rooftop solar through 2016," J.P. Morgan Securities initiated coverage on ENPH with an "overweight" rating and a $16 price target, sending the shares up 6.3% to reach $13.84. Looking back, though, Enphase Energy Inc is down 23% from its Sept. 18 all-time high of $17.97, and has spent the past few months bouncing between support at its 50-week moving average and resistance at $15. Short sellers have taken a shine to the stock, as short interest increased by over 36% during the past two reporting periods, and now accounts for 24.8% of ENPH's available float. What's more, it would take these traders seven sessions to cover their bets, at average trading volumes. Meanwhile, the brokerage bunch is divided on the equity, with five out of nine covering analysts rating it a "hold."

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