Analyst Update: Monster Beverage, Aduro BioTech, Caterpillar

Analysts adjusted their ratings on Monster Beverage Corp (NASDAQ:MNST), Aduro BioTech Inc (NASDAQ:ADRO), and Caterpillar Inc. (NYSE:CAT)

May 11, 2015 at 1:01 PM
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Analysts are weighing in today on energy drink specialist Monster Beverage Corp (NASDAQ:MNST), drugmaker Aduro BioTech Inc (NASDAQ:ADRO). and blue chip Caterpillar Inc. (NYSE:CAT). Here's a quick look at today's brokerage notes on MNST, ADRO, and CAT. 

  • The shares of MNST are 6% higher at $136.21, after Citigroup raised its rating to "buy" from "neutral" while hiking its price target to $155 from $141 -- in uncharted territory. The brokerage firm attributed the upbeat note to expectations for growing market share and higher profitability outside of the U.S. Technically speaking, the shares of Monster Beverage Corp have dipped 5% since revealing underwhelming first-quarter earnings on May 7. However, MNST has more than doubled on a year-over-year basis -- including an all-time high of $144.69 on April 27 -- and its recent pullback was contained by its 20-week moving average. What's more, MNST is now the top percentage gainer on the S&P 500 Index (SPX) today. Short-term traders have been more put-skewed than usual, though, as MNST's Schaeffer's put/call open interest ratio (SOIR) of 1.08 ranks in the 86th annual percentile. Simply stated, near-term speculators have been more put-heavy only 14% of the time over the past year. Furthermore, the brokerage bunch is also skeptical of the equity, as over half of covering analysts rate it a "hold." Should MNST resume its long-term uptrend, more bullish analyst notes could add fuel to the fire. 

  • No fewer than three brokerage firms initiated coverage on ADRO, sending the shares 3.6% higher to $31.95. Specifically, Leerink and William Blair started coverage with an "outperform" rating, with the former also doling out a $48 price target, while Canaccord Genuity offered a fresh "buy" rating and a $43 target. Furthermore, Canaccord analysts waxed optimistic on ADRO's CRS-207 compound, predicting sales of roughly $1 billion over the next decade. On the charts, the shares of Aduro BioTech Inc are attempting to climb atop $32 -- their April 15 debut price -- but are down 35% from their record high of $49.25, tagged in the security's second session of trading. Heading into today's session, Roth Capital was the lone brokerage firm covering ADRO, with a lofty $74 price target and a "buy" rating. 

  • CAT is leading the bullish blue-chip minority, up 2.1% at $89.14, after Baird raised its rating to "outperform" and increased its price target to $101. Looking back, the shares of Caterpillar Inc. have gained 14% since notching a three-year low of $78.19 on March 13, and were last seen knocking on the door of former support at $90. Accordingly,calls have been prominent in the options pits, as CAT's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 0.81 is higher than 73% of all similar readings from the past year. Elsewhere, short interest increased by 6.4% over the last two reporting periods, and now accounts for about 5.4% of CAT's available float. It would take these bettors about six sessions to cover their bets, at average trading volumes. 
 

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