Analyst Upgrades: Glu Mobile, Salesforce, and Time Warner

Analysts upwardly revised their ratings on Glu Mobile Inc. (GLUU), Salesforce.com, inc. (CRM), and Time Warner Inc (TWX)

Apr 30, 2015 at 9:26 AM

Analysts are weighing in today on gaming issue Glu Mobile Inc. (NASDAQ:GLUU), cloud concern Salesforce.com, inc. (NYSE:CRM), and media magnate Time Warner Inc (NYSE:TWX). Here's a quick roundup of today's bullish brokerage notes on GLUU, CRM, and TWX.

GLUU is cruising higher ahead of the bell, up 29% after the company reported a surprise first-quarter profit and announced a partnership with Britney Spears. In other news, China-based entertainment firm Tencent has taken a 14.6% stake in Glu Mobile Inc. A number of analysts have responded positively to these developments, with Canaccord Genuity, Craig-Hallum, and Benchmark each raising their price targets on the stock. On the charts, GLUU has done well, adding 38.5% year-to-date to trade at $5.40, helped by yesterday's bounce off its 50-day moving average. There's plenty of sideline cash available to fuel additional gains, as well. Nearly 17% of GLUU's float is sold short, which would take over 12 sessions to repurchase, at the equity's average pace of trading.
CRM soared yesterday, spiking to a record high of $78.46 before settling on an 11.6% lead to close at $74.65 -- buoyed by reports the firm is fielding takeover offers. This morning, the shares are off 3.3% ahead of the bell, despite a price-target hike to $83 from $79 at Stifel. There's plenty more optimism throughout the Street, too. In fact, 24 of 29 analysts tracking Salesforce.com, inc. rate it a "buy" or better. Also, during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity has accumulated a call/put volume ratio of 2.64 -- in the 85th percentile of its annual range.
TWX, fresh off yesterday morning's earnings beat, is in the bullish crosshairs ahead of the bell. No fewer than four brokerage firms upped their price targets on the stock -- the most ambitious of which came from Wedbush, which lifted its target to $95 from $91, territory not seen by the equity since June 2001. Technically speaking, Time Warner Inc hasn't done much, sitting a hair above its year-to-date breakeven at $85.45, and spinning its wheels in the $83-$86 range for the past month. Nevertheless, options traders have been betting bullishly on the shares. TWX's 10-day ISE/CBOE/PHLX call/put volume ratio of 19.51 stands above 92% of comparable readings from the past year. In other words, option speculators have picked up calls over puts at a faster rate just 8% of the time over the last 12 months.

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