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