Analyst Update: FedEx, Agenus, Chesapeake Energy

Analysts adjusted their ratings and price targets on FedEx Corporation (NYSE:FDX), Agenus Inc (NASDAQ:AGEN), and Chesapeake Energy Corporation (NYSE:CHK)

Jun 11, 2015 at 2:02 PM
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Analysts are weighing in today on delivery concern FedEx Corporation (NYSE:FDX), immuno-oncology stock Agenus Inc (NASDAQ:AGEN), and energy firm Chesapeake Energy Corporation (NYSE:CHK). Here's a quick look at today's brokerage notes on FDX, AGEN, and CHK.

  • Some bullish analyst attention has FDX 1.5% higher at an all-time high of $184.99. Specifically, RBC raised its price target to $195 from $180, while Credit Suisse hiked its target to $206 from $198. Elsewhere, Citigroup added the stock to its focus list, waxing optimistic on the company's aircraft retirements. Prior to June, the stock had been chopping between $170 and $180 for most of the year. With today's gains, FedEx Corporation option traders may be hurting. Over the past 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock has amassed a put/call volume ratio of 1.12 -- only 6 percentage points from an annual high.

  • AGEN touched a five-year peak of $9.51 earlier, and was last seen 5.8% higher at $9.44, after Oppenheimer initiated coverage with an "outperform" rating and $14 price target. According to the brokerage firm, "Agenus’ immunotherapy platform represents a unique toolkit from which combination treatments for cancer could be rapidly developed and these will provide a competitive advantage in bringing therapeutics to market." It's not unusual to see analysts taking a bullish stance on Agenus Inc, as all three covering analysts issue "strong buy" recommendations. It's not hard to see why: AGEN has more than doubled since the start of the year.

  • For the second straight day, CHK is moving lower. In fact, the stock hit a six-year low of $12.45 earlier, and was last seen down 3.5% at $12.60. The downside move comes after Oppenheimer cut its outlook to "perform" from "outperform" and removed its $22 price target. The stock has now underperformed the S&P 500 Index (SPX) by 14.5 percentage points in the past 20 sessions. It's no wonder, then, short-term option traders have been more put-skewed than normal. Chesapeake Energy Corporation's Schaeffer's put/call open interest ratio (SOIR) comes in at 1.55, higher than 86% of similar readings from the past year.


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