Analyst Upgrades: Intel, GoPro, Galmed Pharma

Analysts upwardly revised their ratings on Intel Corporation (INTC), GoPro Inc (GPRO), and Galmed Pharmaceuticals Ltd (GLMD)

Apr 15, 2015 at 9:26 AM
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Analysts are weighing in today on tech giant Intel Corporation (NASDAQ:INTC), mountable camera maker GoPro Inc (NASDAQ:GPRO), and biopharmaceutical firm Galmed Pharmaceuticals Ltd (NASDAQ:GLMD). Here's a quick roundup of today's bullish brokerage notes on INTC, GPRO, and GLMD.

  • After last night reporting first-quarter profits roughly in-line with expectations, INTC is 3% higher ahead of the open. The stock had been picking up steam going into the report, adding 7.4% since hitting a 2015 low of $29.31 on March 26 to settle at $31.49 yesterday. Intel Corporation could see additional gains, too, if it can sustain today's rally. Of the 29 brokerage firms with coverage on the shares, 13 deem them a "hold" or worse. Also, INTC is approaching its average 12-month price target of $34.61 -- a level it already topped in 2015. Don't be surprised to see analyst upgrades and/or price-target hikes boost the shares. In fact, just this morning, the stock saw no fewer than nine brokerage firms raise their price targets, with RBC as the most ambitious, setting a target of $40. Also, RBC and Wedbush each upgraded INTC to "outperform" from the equivalent of "neutral." Three other brokerage firms, however, cut their price targets on the security.

  • GPRO is working to gain back some of its nearly 30% year-to-date drop, with shares pointed 2.5% higher in electronic trading. The surge comes after Piper Jaffray upgraded the stock to "overweight," citing a strong adoption rate among teens. Even so, with GoPro Inc closing at $44.48 yesterday, it remains 30% below its consensus 12-month price target of $63.23, leaving the shares vulnerable to price-target cuts. Options bulls have remained stubborn during the stock's decline, as calls have been in high demand. In fact, 2.78 calls have been bought to open for every put during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). A capitulation among these optimists could result in headwinds.

  • Roth Capital started coverage on GLMD with a "buy" rating and $20 price target -- more than double its close at $8.78 yesterday. The shares have already added more than 50% in 2015, outpacing the S&P 500 Index (SPX) by 27.5 percentage points during the past two months. Roth Capital's price target isn't too shocking when looking at Galmed Pharmaceuticals Ltd's average 12-month price target, which stands at $24 -- territory never before explored.

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