Analyst Update: Oracle Corporation, Palo Alto Networks, Inc., and Walgreens Boots Alliance Inc

Analysts adjusted their ratings and price targets on Oracle Corporation (NYSE:ORCL), Palo Alto Networks Inc (NYSE:PANW), and Walgreens Boots Alliance Inc (NASDAQ:WBA)

by Josh Selway

Published on Jun 9, 2015 at 1:15 PM

Analysts are weighing in today on tech monster Oracle Corporation (NYSE:ORCL), cybersecurity stock Palo Alto Networks Inc (NYSE:PANW), and pharmacy chain Walgreens Boots Alliance Inc (NASDAQ:WBA). Here's a quick look at today's brokerage notes on ORCL, PANW, and WBA.

  • ORCL is 0.3% lower today at $42.98, after Wunderlich started coverage on the stock with a "hold" rating and $47 price target. Elsewhere, Berenberg named ORCL as one of its least preferred stocks in the software and IT services sector. Technically speaking, it's been a dull year for Oracle Corporation, as it's been range-bound between $41.50 and $45 throughout 2015. Option traders have kept the faith. ORCL's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 2.43 is higher than four-fifths of readings from the past year.

  • Similar to ORCL, a tepid rating from Wunderlich is weighing on PANW. The brokerage firm initiated coverage on the shares with a "hold" rating and $180 price target. This goes against the general sentiment on the Street, as 19 of 22 analysts rate Palo Alto Networks Inc a "buy" or better. The stock has earned this bullish attention by more than doubling in the past 12 months -- though traders may have stretched it too thin. PANW's 14-day Relative Strength Index (RSI) rests in overbought territory, at 72. At last check, the shares were off 1.2% at $170.71.

  • On the other hand, WBA is gaining today, adding 1.3% at $84.36. The shares are getting a lift from Macquarie, which started coverage with an "outperform" rating. Walgreens Boots Alliance Inc was already up over 9% year-to-date before today, hitting an all-time high of $93.42 in early April. Traders have remained bearish, though. In fact, short interest increased by almost 16% during the most recent two-week reporting period. With that surge, there are now over 14 million WBA shares sold short, which would take over a week to repurchase, at normal daily volumes. The security could stand to benefit from a short-squeeze, if its technical strength persists.

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