Analyst Update: AT&T, PTC Therapeutics, F5 Networks

Analysts adjusted their ratings on AT&T Inc. (T), PTC Therapeutics, Inc. (PTCT), and F5 Networks, Inc. (FFIV)

Griffin Kruse
Apr 23, 2015 at 11:54 AM
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Analysts are weighing in today on telecom titan AT&T Inc. (NYSE:T), biotech firm PTC Therapeutics, Inc. (NASDAQ:PTCT), and application delivery specialist F5 Networks, Inc. (NASDAQ:FFIV). Here's a quick look at today's brokerage notes on T, PTCT, and FFIV.

  • The shares of T are 3% higher at $33.87, after the firm posted first-quarter earnings that beat expectations. Reacting was J.P. Morgan Securities, which raised its price target on AT&T Inc. by $3 to $35 while keeping its "neutral" opinion, and applauded the company's ability to retain wireless customers. Technically speaking, T has been underwhelming, although today's post-earnings bump puts the shares 0.9% in the black for 2015. Many traders are likely hoping the rebound has legs, as T's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.51 is higher than 99% of all other readings taken in the past year. The brokerage bunch isn't as optimistic, though, as 68% of covering analysts rate the stock a "hold."
  • Oppenheimer lifted its price target on PTCT by $20 to $155 while underscoring its "outperform" rating, sending the shares up 2.7% to $72.91. The brokerage firm attributed the new target -- which stands in uncharted territory, at more than double PTCT's current perch -- to optimism regarding the drugmaker's experimental genetic treatment. On the charts, PTC Therapeutics, Inc. has been a technical beast, with the shares up an astonishing 290% year-over-year. Despite this incredible uptrend, short sellers have been active on the equity, as short interest  increased by nearly 15% over the past two reporting periods. It now accounts for about 12.3% of PTCT's available float, which would take nearly four sessions to cover, at average trading volumes.
  • FFIV had a big day in the news cycle, as the firm released fiscal second-quarter earnings, announced that veteran CEO John McAdam is retiring in July, and warned that a rising U.S. dollar will likely affect current-quarter revenue. In response, no fewer than 14 brokerage firms weighed in on the stock, with the loftiest hikes coming from Keybanc and Pacific Crest, which both raised their price targets to $149 while reiterating "overweight" ratings. Furthermore, the largest cut came from Raymond James, which reduced its price target by $10 to $123 while keeping its "outperform" evaluation. At last check, the shares of F5 Networks, Inc. were 1.8% higher at $122.51, bring the shares' year-to-date decline to 6.1%. Looking to the options pits, puts have been a popular choice lately, as FFIV's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.95 stands in the 92nd percentile of its annual range.

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