Analyst Upgrades: Mattel, EMC, Cyberark Software

Analysts upwardly revised their ratings on Mattel, Inc. (MAT), EMC Corporation (EMC), and Cyberark Software Ltd (CYBR)

Josh Selway

Apr 17, 2015 at 9:28 AM

Analysts are weighing in today on toy tycoon Mattel, Inc. (NASDAQ:MAT), hardware provider EMC Corporation (NYSE:EMC), and cybersecurity firm Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's bullish brokerage notes on MAT, EMC, and CYBR.

MAT is gaining ahead of the opening bell, with shares surging 5.7%, thanks to better-than-anticipated first-quarter results. In response, Barclays raised its price target to $25 from $24, and B. Riley upped its target to $29 from $27.25. It's a boost the stock needs, as it's fallen 18.3% year-to-date, finishing at $25.27 yesterday. Call buyers have been stepping up recently, anticipating a recovery. Mattel, Inc.'s 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.09 is higher than 71% of all readings from the past 12 months. This suggests call buying has been more popular than usual versus put buying of late.

EMC is getting a lift in pre-market trading, after Bernstein raised its outlook to "outperform." Like MAT, EMC Corporation has been struggling recently. With its close at $26.05 yesterday, the equity is down 11% since its late-February high of $29.24. Like Bernstein, though, most analysts are still believers, with 18 of 24 brokerage firms tracking the shares rating them a "buy" or better. Plus, at $30.35, EMC's average 12-month price target stands in territory not charted since late December. Looking ahead, the company will report first-quarter earnings before the open next Wednesday, April 22.

For the second time this week, CYBR is set to benefit from bullish analyst attention. Overnight, JMP Securities initiated coverage on the shares with a "market outperform" assessment and $72 price target -- considerably higher than the equity's consensus 12-month price target of $50.56. However, the target isn't out of the question, considering Cyberark Software Ltd closed at $61.12 yesterday, and has been storming up the charts of late. The security has beat out the S&P 500 Index (SPX) by almost 63 percentage points over the past three months. It's surprising, then, to see 63% of analysts issuing "hold" or worse recommendations on CYBR. Should the stock extend its technical strength, it could see a round of price-target hikes and/or analyst upgrades.

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