Analyst Upgrades: Amazon, Nokia Corporation, Amgen

Analysts upwardly revised their ratings on, Inc. (NASDAQ:AMZN), Nokia Corporation (ADR) (NYSE:NOK), and Amgen, Inc. (NASDAQ:AMGN)

Apr 22, 2015 at 9:27 AM
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Analysts are weighing in today on e-commerce giant, Inc. (NASDAQ:AMZN), telecom concern Nokia Corporation (ADR) (NYSE:NOK), and biotechnology firm Amgen, Inc. (NASDAQ:AMGN). Here's a quick roundup of today's bullish brokerage notes on AMZN, NOK, and AMGN.

  • For the second time this week, AMZN received upbeat analyst attention, this time from Monness Crespi Hardt, which raised its outlook to "buy" from "neutral" and its price target to $450 from $350 -- in territory yet to be charted. Technically speaking,, Inc.  has rallied 26% in 2015 to trade at $391.18, with a hefty portion of this advance a result of the equity's 13.7% single-session post-earnings pop on Jan. 30. It appears option traders are rolling the dice on another well-received earnings report when the company steps into the limelight tomorrow evening. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX),, Inc.'s 10-day call/put volume ratio of 1.56 ranks in the 90th annual percentile.
  • NOK received an upgrade to "outperform" from "market perform" and a price-target hike to $10.35 from $9.20 at Bernstein, amid reports its map business is attracting the attention of a number of high-profile bidders -- including Facebook Inc (NASDAQ:FB). This isn't the first M&A headline Nokia Corporation has made this week, and as a result, NOK is up 2.9% since last Friday's close to linger at $7.84. Longer term, the equity has been churning between $7.50 and $8.50 since mid-October. Option traders are optimistic, though, as evidenced by the security's 50-day ISE/CBOE/PHLX call/put volume ratio of 16.14, which rests higher than 92% of all similar readings taken during the past 12 months.
  • A handful of brokerage firms weighed in on AMGN, after the company reported better-than-expected first-quarter earnings and raised its full-year profit forecast. Included in the bunch was Leerink Swann, which upped its price target by $10 to $187, explaining "Management's 'transformation' plan appears to be reducing operating expenses." Deutsche Bank, meanwhile, offered up the most optimistic outlook, boosting its price target by $5 to $200, which represents expected upside of 18.7% to last night's close at $168.46, as well as a move into record-high waters. On the charts, AMGN has tacked on an impressive year-over-year gain of 41.2%, and options traders have responded in kind. Specifically, the security's Schaeffer's put/call open interest ratio (SOIR) of 0.61 ranks in the 3rd percentile of its annual range, meaning short-term speculators are more call-heavy than usual.


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